[IMF first Vice President: Fed should adjust its Policy Framework] April 15, International Monetary Fund (IMF) first Vice President Gita Gopinath said that the Fed should adjust its monetary policy framework to a situation where supply shocks are more frequent and senior inflation risks are greater. "We will be more exposed to supply shocks, so monetary policy faces more severe trade-offs," Gopinath said. "our monetary policy framework must be improved." Gopinath advises the Fed to be more wary of overheating and be more proactive in preventing the risk of excessive inflation in advance. After years of inflation falling below its 2 per cent target most of the time, the fed adjusted its monetary policy strategy in august 2020.