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The Monetary-Fiscal Policy Mix and Central Bank Strategy

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Abstract

St. Louis Fed President Jim Bullard presented “The Monetary-Fiscal Policy Mix and Central Bank Strategy” at a conference hosted by Stanford University’s Hoover Institution. Bullard said that the pandemic fiscal-monetary response created too much inflation. To eliminate the excess inflation, the fiscal-monetary response must be countered, he noted, adding that this is happening. The fiscal stimulus is receding, and monetary policy has been adjusted rapidly in the last year to better align with traditional central bank strategy, he said. “Accordingly, the prospects for continued disinflation are good but not guaranteed,” he added.

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  • James B. Bullard, 2023. "The Monetary-Fiscal Policy Mix and Central Bank Strategy," Speech 96146, Federal Reserve Bank of St. Louis.
    • Handle: RePEc:fip:fedlps:96146
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    File URL: https://www.stlouisfed.org/-/media/project/frbstl/stlouisfed/files/pdfs/bullard/remarks/2023/bullard-hoover-12-may-2023.pdf
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    File URL: https://www.stlouisfed.org/news-releases/2023/05/12/bullard-monetary-fiscal-policy-mix-and-central-bank-strategy
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