BIS SPEECHEScentral bank
Philip N Jefferson: Navigating economic shocks - a monetary policymaker's perspective
Hawkish Score+50Hawkish
Trailing 3 speeches
Speaker DriftPhilip N Jefferson · 5 speeches in 12motrend: shifting hawkish
−100neutral band ±25+100
What changed vs prior statement
- 01Policy emphasis shifted towards proactive measures against economic shocks.
- 02Introduction of "data-dependent" language, moving away from "patient" terminology.
- 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.