ECB Listens: Review of its monetary policy strategy

The European Central Bank (ECB) is undertaking a strategy review covering all aspects of its monetary policy. As part of this review, the Peterson Institute for International Economics (PIIE) held a panel discussion on May 25, 2021, which included responses from Philip Lane, the ECB’s chief economist. The discussion focused on the interaction between monetary and fiscal policies; the relevance of issues such as employment, climate change, social inclusion, and financial stability considerations in the ECB mandate (with awareness that it is different from the mandate of the Federal Reserve); and makeup strategies versus forward guidance.

SPEAKERS

• Stephen G. Cecchetti, Brandeis International Business School
• Kristin J. Forbes, MIT’s Sloan School of Management
• Frederic Mishkin, Columbia University
• Philip R. Lane, European Central Bank

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