• Pigeons are believed to be more interested in stimulating job growth through low interest rates than in controlling inflation.

  • Critics argue that dovish monetary policy left unchecked could overheat the economy and lead to runaway inflation.
  • The opposite of the dove is the hawk, a policy adviser advocating tight monetary policy to control inflation.
  • Often the best scenario for a healthy economy is when monetary policymakers are able to switch between hawkish and dovish stances when the situation calls for it.