Per Jacobsson Lecture: October 2014 : The Federal Reserve and the Global Economy

As the Federal Reserve's statutory objectives are defined as specific goals for the U.S. economy—to pursue maximum sustainable employment and price stability—and its policy decisions are targeted to achieve these dual objectives, there might seem to be little need for its policymakers to pay attention to developments outside the United States. But such an inference would be incorrect: the state of the U.S. economy is significantly affected by the state of the world economy, and of course, actions taken by the Federal Reserve influence economic conditions abroad, which in turn spill back on the evolution of the U.S. economy and therefore must be taken into account in the Federal Reserve's monetary policy choices. This Per Jacobsson Lecture first reviews the effect of the Federal Reserve's monetary policies on the rest of the global economy, particularly emerging market economies. It then addresses prospective outcomes and possible risks associated with the normalization of the Federal Reserve's policies. Finally, it discusses the Federal Reserve's responsibilities in the world economy.
Publication date: April 2015
ISBN: 9781498342544
$0.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
English
Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

monetary policies , transmission , Federal Reserve , normalization , taper tantrum , world economy , financial integration , emerging market economies , spillovers , spillbacks , monetary accommodation , quantitative easing , asset purchases

Summary