BIS SPEECHEScentral bank
Navigating economic shocks - a monetary policymaker's perspective
Hawkish Score+50Hawkish
Trailing 2 speeches
Speaker DriftPhilip N Jefferson · 3 speeches in 12motrend: shifting hawkish
−100neutral band ±25+100
What changed vs prior statement
- 01Shift towards a more data-dependent approach in the current statement.
- 02Language reflects increased emphasis on potential economic shocks and their implications.
- 03No vote-record change.
From the original
Speech by Mr Philip N Jefferson, Vice Chair of the Board of Governors of the Federal Reserve System, at the Stanford Institute for Economic Policy Research, Stanford University, Stanford, California, 16 July 2026.