Charles L. Evans, president of the Federal Reserve Bank of Chicago, discusses the Fed's dual mandate in working to avoid an economic collapse and an increase in inflation, as well as lowering the unemployment rate.
Click here to view graphs of the Federal Reserve's Dual Mandate.
This meeting was part of the C. Peter McColough series on International Economics.
Bleak assessments by the IMF and the Fed this week underlined a worsening European sovereign debt crisis and stagnant U.S. economic growth, putting renewed pressure on global financial markets and intensifying policy debate.
Authors: Benn Steil and Manuel Hinds Financial Times
Benn Steil's op-ed in the May 24th edition of the Financial Times, co-authored with Manuel Hinds, examines what it would mean for the United States to be obliged to function, like most of the world, without an internationally accepted money. They show why the U.S. not being able to pay its foreign debts in conjured currency would, contrary to Paul Krugman's view, be a big deal.
China's policy of holding down the value of its currency and monetary easing in the United States have led to large capital inflows into emerging economies. Although consensus in emerging markets has formed around capital controls, Francis E. Warnock challenges their underlying assumptions.
Speaker: Thomas M. Hoenig Presider: Paul E. Steiger
Thomas M. Hoenig, president and chief executive officer of the Federal Reserve Bank of Kansas City, discusses the risks in a real market economy and the need to develop a long-term, post-recovery monetary policy.
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
The authors argue that it is essential to begin working now to expand and establish rules and norms governing armed drones, thereby creating standards of behavior that other countries will be more likely to follow.
The author examines Pakistan's complex role in U.S. foreign policy and advocates for a two-pronged approach that works to quarantine threats while integrating Pakistan into the broader U.S. agenda in Asia.