The Wall Street Journal | By: Tom Fairless | November 14, 2017:
ECB chief Mario Draghi says critics of monetary stimulus had faced too little scrutiny.
The heads of four of the world’s most important central banks defended their sweeping crisis-fighting measures in a rare joint appearance, and discussed how words themselves have become a vital policy tool.
The leaders of the Federal Reserve, European Central Bank, Bank of Japan and Bank of England—whose terms all end in the next two years—have relied heavily on verbal communication in recent years as their policy decisions have grown more complex.
Janet Yellen’s departure as chair of the Federal Reserve in February will mark the beginning of a long farewell to the group of central bankers who helped steer advanced economies out of the financial-crisis era.
The current crop of officials shared a willingness to experiment with unorthodox policies to stimulate their economies, and worked closely together at times…
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