This flexibility means that we can also consider how well the job market is doing when we are determining how quickly to achieve our inflation target. It’s also useful in circumstances where returning inflation to target more slowly could help support financial stability. Third, I’m struck by how far we’ve come in our understanding of the limits of monetary policy to solving all problems.
Professor Huang Da is a famous economist and educator, well known both at home and abroad. He is one of the scholars who first conducted monetary theory research in China and who established the discipline of finance in China. As early as when the People’s Republic of China was founded, professor Huang Da began to conduct education and research activities on finance.