Posen: Fed Trying to Convey Committee Consensus

The transcript discusses the Federal Reserve's political dynamics, focusing on Chair Yellen, Vice Chair Fischer, and President Dudley's roles. It explores the Fed's strategy in managing market expectations, particularly regarding rate hikes, and the use of game theory to influence market learning. The conversation also touches on the potential impact of dollar strengthening and the effectiveness of negative interest rates in various countries, highlighting the perspectives of central bankers like Stanley Fischer and Governor Karoda.

What was the overall sentiment regarding the effectiveness of negative rates as discussed in the conversation?

In what ways do negative interest rates function in small open economies according to the discussion?