Politiques monétaires: la marche à suivre

  title={Politiques mon{\'e}taires: la marche {\`a} suivre},
  author={Elena G. F. Stancanelli and Val{\'e}rie Chauvin and Guillaume Chevillon and Odile Chagny and H{\'e}l{\`e}ne Baudchon and Ga{\"e}l Dupont and Catherine Mathieu and Christine Rifflart and Danielle Schweisguth and Herv{\'e} P{\'e}l{\'e}raux and Mathieu Plane and Xavier Timbeau and Eric J. Heyer and Matthieu Lemoine and Paola Veroni and Amel Falah and Sabine Le Bayon},
  • Elena G. F. Stancanelli, Valérie Chauvin, +14 authors Sabine Le Bayon
  • Published 2004
  • Economics
  • The tightening cycle has at last begun in the United States. Bond markets have joined this movement. The next step for central banks is to handle the huge rise of oil prices without derailing the still fragile recovery. Choosing to support growth rather than unnecessarily combat the temporary pick up of inflation should lead the Federal Reserve to a 125 bp increase of the federal funds rate (to 3%). The ECB should tighten its rate only once, by 25 bp. Counting on a softening of the housing… CONTINUE READING

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