Never at the Cost of Your Independence

An excerpt from a recent article in IMF Blog:

"A rapidly changing economic backdrop leaves less maneuvering room for policy, while structural forces—from deglobalization to climate change, aging populations, and the advent of digital money—have greatly complicated the underlying policy challenge. Central bank mandates and even their independence are under increasing political pressure. These new forces and others raise questions about how monetary policy may have to change going forward."

Due to the rising global inflation, monetary and fiscal authorities have to work together to bring inflation down, but never at the cost of their independence. 

Image credit: New Year’s Inflation – By Christopher Weyant