Beaudry, Paul; Carter, Thomas J.; Lahiri, Amartya - 2022 - Last updated: September 20, 2022
initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued … to increase, central banks pivoted by quickly tightening monetary policy. The pivot was explained, at least in part, as … sometimes and pivot away at other times? When does a change in monetary policy stance help anchor expectations? When is a strong …