Fed Chairwoman Janet Yellen – The Federal Reserve’s
Monetary Policy Toolkit: Past, Present, and Future
WSJ piece - Central Bankers’ Main Challenge: Staying
Relevant
An interesting critique of Fed policies:
Years of Fed Missteps Fueled Disillusion with the
Economy and Washington by Jon Hilsenrath
“In the 1990s, a period known in economics as the
“Great Moderation,” it seemed the Fed could do no wrong. Policy makers and
voters saw it as a machine, with buttons officials could push to heat or cool
the economy as needed. Now, after more than a decade of economic
disappointment, the central bank confronts hardened public skepticism and
growing self-doubt about its own understanding of how the U.S. economy works.
For anyone seeking to explain one of the most
unpredictable political seasons in modern history, with the rise of Donald
Trump and Bernie Sanders, a prime suspect is public dismay in institutions
guiding the economy and government. The Fed in particular is a case study in
how the conventional wisdom of the late 1990s on a wide range of economic
issues, including trade, technology and central banking, has since slowly
unraveled.”
Related:
http://www.telegraph.co.uk/business/2016/08/22/jackson-hole-the-three-tough-questions-central-banks-must-ask-th/
Concerns grow over negative interest rates:
http://www.spectator.co.uk/2016/08/why-negative-interest-rates-are-mad-bad-and-dangerous/