Monetary policy has 'in hindsight' been 'too expansionary,' according to the Chairman of the Swiss National Bank Thomas Jordan.
Monetary policy has "in hindsight" been "too expansionary," according to the Chairman of the Swiss National Bank Thomas Jordan."We probably all underestimated inflationary pressure in 2021," Jordan told CNBC.Monetary policy was "too expansionary" in previous years and the current surge in consumer prices has not yet been brought under control, the chairman of the Swiss National Bank Thomas Jordan said Friday.
"Probably with the benefit of hindsight monetary policy was all over the place a little bit too expansionary," Jordan said when asked by CNBC's Joumanna Bercetche if the current economic situation would be different if the central banking community had reacted quicker to signs of inflation. "We probably all underestimated inflationary pressure in 2021," Jordan told CNBC on a panel at the World Economic Forum in Davos.
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