The Strange Business of Central Banking

There are reasons why monetary policy doesn't help some people as much as others

Central banking is a weird business: Small groups of unelected officials affect the fates of billions. One particular concern is that policies meant to benefit everyone might help some more than others. It's a topic that occupied a good deal of the discussion this morning at the annual confabof academics, traders, and central bankers in Jackson, Wyoming, hosted by the Federal Reserve Bank of Kansas City.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.