The Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Saturday, June 26, 2021. The Federal Reserve might consider an interest-rate hike from near zero as soon as late 2022 as the labor market reaches full employment and inflation is at the central bank's goal. Photographer: Stefani Reynolds/Bloomberg
IF central banks’ policies of zero interest rates and trillions of dollars of bond buying struggled to lift growth and inflation for over a decade, tighter monetary policy may be equally inefficient in reining them in.
At least that’s what research by International Monetary Fund (IMF) economists suggests, arguing that the increasing dominance of fewer and larger companies potentially undermines the impact of central bank policies on overall economic activity and prices.
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