President of the ECB, at the 2024 Michel Camdessus Central Banking Lecture organised by the IMF Washington, DC, 20 September 2024 By Christine Lagarde Central banks are public institutions with powerful tools, but the way these tools affect the economy is constantly changing. This uncertainty comes, in part, from the famous “long and variable” lags … Continue reading Setbacks and strides forward: Structural shifts and monetary policy in the twenties