Monetary Policy


A Discussion of the Fed’s Dual Mandate Responsibilities (Audio)

Speaker: Charles L. Evans
Presider: Jeffrey E. Garten

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.

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Analysis Brief
Renewing America

Renewing America

U.S. Takes Aim at Yuan

Author: Christopher Alessi

A U.S. Senate bill targeting China's controversial currency policy risks provoking retaliatory measures from Beijing, say analysts, and would make little headway in advancing U.S. economic interests.

See more in China; United States; Monetary Policy


Keynesians are complacent about the dollar

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.


See more in International Finance; Monetary Policy; Global

Other Report

Doubts About Capital Controls

Author: Francis E. Warnock

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.

See more in International Finance; Monetary Policy; Global


A Conversation with Thomas M. Hoenig

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.

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