Our own Federal Reserve Bank of Kansas City President, Ester L. George, has been called a hawk based on her votes and statements in the Federal Open Market Committee. The financial press characterizes those in central banks who want to move strongly to fight inflation and speculative excess by tightening monetary policy and raising interest rates as "hawks." Those who advocate lower interest rates are called "doves."
What's with these terms? : The terms 'dovish' and 'hawkish' are second nature to anyone covering central bank policy, finance and economics. But where do the terms come from? In this December 24th, 2014 video, FT Alphaville's Izabella Kaminska delves into the Vietnam war, evolutionary game theory and even 'Mary Poppins' to find out.
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