Central Banks Have Lost the Initiative, Says Jeffrey

The transcript discusses the challenges faced by central banks in managing inflation and monetary policy. It highlights concerns about rising core inflation rates despite lower oil prices and critiques central banks for losing the policy initiative. The discussion covers the influence of financial markets on central bank decisions, the role of mandates in shaping policy, and the need for central banks to lead the economic debate. The transcript emphasizes the importance of confidence in economic policy and the potential consequences of central banks' actions.

What are the concerns regarding the core rate of inflation mentioned in the text?

How have central banks lost the initiative according to the speaker?

What actions does the speaker believe central banks should take regarding monetary policy?

What does the speaker suggest about the relationship between central banks and financial markets?

What is the speaker's view on the recent actions taken by the ECB?