3min chapter

Hidden Forces cover image

Sources of Financial Instability: Challenges for Monetary and Fiscal Policy | Claudio Borio

Hidden Forces

CHAPTER

The Stagflationary Period of the Nineties

I think the stagflationary period of the 19 seventies is more important and less remembered than most any other period in recent memory. And i think one example of that is the impact it had on policy maker's focus, maniacal focus, if you really think about it, on inflation targeting. In fact, what you're suggesting, and through your work as well, is that the low inflation led central bankers to keeping interest rates low because they were worried about deflation was actually a mistake. It could have been a meanness toever had to back up.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode