Since the liberalization of trade and the internationalization of financial markets, central banks have become major players in the choice and implementation of economic policy. They have different missions and statuses depending on the country or continent. Of all, it is the European Central Bank (ECB) that has the greatest freedom of action, thanks to its independence enshrined in its founding treaty and the definition of its mission in its statute, to reduce and maintain inflation in the euro zone to a level below but close to 2%. It can then act to support growth and employment.
The US Federal ...