As advanced-economy central bankers assess their recent policy responses, failures, and lessons learned, they should recognize where others got it right and where they got it wrong. Humility requires nothing less.
explain why monetary policymakers must accept a deliberately narrow mandate.
Though Polish voters in October ousted their right-wing populist government, recent elections in Slovakia and the Netherlands show that populism remains as malign and potent a political force as ever in Europe. But these outcomes also hold important lessons for the United States, where the specter of Donald Trump’s return to the White House haunts the runup to the 2024 presidential election.