Will the Fed and ECB Learn From the Crises and Adapt in the Future?

This is an essential question at a time when there is no shortage of challenges for the future, such as the energy transition.

Faced with unprecedented crises, central banks have revolutionized their intervention methods in recent years. Will the return of inflation close this parenthesis?

The history of monetary policy is one of learning through crises. The Bundesbank became monetarist for one practical reason, the fall of the dollar standard. The Bank of England converted to i…