Speakers
Objectives
The session will not discuss the timing of rate cuts—many others are doing that.
Instead, it will explore some deeper questions in monetary policy. First, is there an implicit assumption now that we are very soon returning to the easy times of low-for-long interest rates? Second, has it already been concluded that central bank balance sheets must remain large forever? The roundtable will seek to encourage a vibrant debate on these issues.
Points of discussion
- Are we returning to a world where real interest rates are at zero? What lessons should be drawn from the many years of negative policy rates and easy money?
- Is it already decided that central bank balance sheets must remain large forever? What are the tradeoffs of a large structural bond portfolio?