On October 19, a financial news flash reported that the 2026 Bund Summit, themed "Technology, Geopolitics and the Global Economy," was held in Huangpu District, Shanghai, from October 19 to 22, 2026.
Federal Reserve Board Vice Chair Donald KOHN attended the conference and took part in a roundtable discussion.
Donald KOHN stated that one of the best safeguards for preserving central bank independence is a policy objective of price stability.
At the same time, he stressed that in the face of recurring supply shocks, achieving this policy objective is not easy, and none of these pressures will ease in the short term.
Donald KOHN believes that central banks are the key institutions taking measures to curb inflation, and they can adopt three measures to safeguard their own independence.
First, they must always stay focused on their core objectives, namely price stability and financial stability. He particularly noted that in the United States, this also includes the labor market objective within the dual mandate, that is, full employment, and that this point is built on achieving price stability.
Second, while always keeping the goal of price stability in mind, they should carry out their work in a flexible manner adjusted to changing circumstances.
Third, while strengthening communication with legislative bodies, they must also strengthen communication with the public.
He said: "You have to explain very clearly your analysis of the situation, explain how you think the situation will develop, what forces are at work on monetary policy, and how monetary policy will fulfill its mission. So, I think communication is crucial to all of this."
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