At the central bankers’ conference in Jackson Hole, SNB President Thomas Jordan opposes higher inflation targets. He also criticizes the trend towards bringing more and more concerns to the central banks that go beyond the core task of monetary policy.
SNB President Thomas Jordan explains the peculiarities of Switzerland in Jackson Hole.
In recent years, at their traditional meeting in Jackson Hole, the central bank governors have repeatedly looked for ways to increase inflation that is perceived to be too low. This year things are completely different. The focus is now on the sharp increase in inflation and the risk of a loss of monetary control. Rarely has the starting point for monetary authorities changed so fundamentally in such a short space of time.
