>> GROUP: Shadow ECB Council / EZB-Schattenrat  Jan Mallien

Jan Mallien: The members of the Shadow ECB Council will discuss the following topics at their next conference call on Thursday afternoon:

"The Fed has updated its policy strategy and will tolerate higher inflation. What are the implications of this shift for the ECB? Should the ECB follow the example of the Fed? And: The ECB is focusing very much on its primary mandate of price stability. According to the treaties it also has a legal obligation to support the general economic policies of the EU. Should the ECB emphasize more its secondary mandate?"

The members of the Shadow ECB Council will post their pre-meeting statements in the TEEC-Forum "Shadow ECB Council / EZB-Schattenrat". All TEEC members are invited to contribute to the discussion by personal comments in this forum. To post your comment please click on the link beneath the headline.

+++ Background: The Shadow ECB Council was founded in 2002 upon an initiative of Handelsblatt, the German business and financial daily. It is an unofficial panel, independent of the ECB/Eurosystem, and comprising prominent European economists drawn from academia, financial institutions, consultancies, companies and research institutes. The Shadow Council usually convenes by telephone conference on a quarterly basis. Its discussions take place before the official ECB Governing Council "policy" meetings. +++
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