Traci Allaway

and going out and buying stuff versus like thinking about those supply side shocks.

And then the question, of course, is if the central bank is not the right entity to deal with these supply side shocks, like should it, given its existing tools, which we touched on, like should it have new tools?

I mean, a lot of people would say no because that's veering into fiscal and you want governments to decide that and democratically elected governments to decide that.

But on the other hand, like if it keeps happening, it also feels somehow unsatisfactory to just say like, well, we're going to have to deal with this with like the existing toolkit.

I think the other point is maybe there are more creative ways of doing it that we haven't even thought of yet.

For instance, could you do monetary policy on a weekly basis versus a monthly decision?

No, seriously.

If the entire world is changing on a week-to-week basis, maybe you need to start making these decisions.

Yeah, I don't know.

My point is there may be creative solutions out there that we haven't even thought about.

All right.

Shall we leave it there?

This has been another episode of the All Thoughts Podcast.

I'm Traci Allaway.

You can follow me at Traci Allaway.

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Thanks for listening.

And I'm Traci Allaway.