The ECB is not the Fed

In this episode of The Sound of Economics, Rebecca Christie discusses central bank independence and credibility with Francesco Papadia and Lucrezia Reichlin, Bruegel fellows and former top officials at the European Central Bank. As the Federal Reserve comes under increasing political pressure in the U.S., understanding what central banks do and why they are needed is more important than ever. Traditional monetary policy, digital currency, financial supervision and climate-related initiatives all play a role in how central banks operate today.

Relevant research: