Comparative analysis of monetary policy and inflation dynamics in the euro area and the United States : compilation of papers

After a series of unprecedented interest rate hikes on both sides of the Atlantic, inflation in the euro area and the United States is cooling down from a 40-year high. However, uncertainty about the inflation and growth outlook remains high, as the European Central Bank and the Federal Reserve are considering their next moves. Five papers were prepared by the ECON Committee's Monetary Expert Panel, making a comparative assessment of inflation dynamics and monetary policy stances in the two monetary areas, as well as implications for the euro area of a possible divergence in the future. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 November 2023.