Panel discussion with Raghuram Rajan, Charles Evans, and Randall Kroszner on central bank responsibilities, unintended consequences of monetary policy, implications of altering inflation targets, challenges faced by Chairman Powell, distinguishing actions for financial stability, and unconventional bank stress testing scenarios.

Former Federal Reserve Bank of Chicago President Charles Evans shares his insights on the Fed's strategies regarding inflation data. He believes the Fed can now effectively respond to improving economic signals. Joined by Bloomberg journalists Lisa Abromowicz and Annmarie Hordern, they discuss prevailing market sentiments about interest rates and the balance between inflation control and unemployment. The group critiques historical Fed communication strategies, emphasizing the need for a more adaptive approach to economic challenges.

Charles Evans, former president and CEO of the Chicago Fed, discusses his work on US monetary policy. Topics include the creation of the Evans rule, the current path of R-Star, and the future of the Fed's framework. They also explore the importance of the explicit 2% inflation target and propose nominal GDP targeting as a solution for supply-side driven inflation.