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.
This meeting was part of the C. Peter McColough Series on International Economics.
Sebastian Mallaby says that the Federal Reserve's recent data dump is a reminder that, two years ago, too-big-to-fail financial institutions drove the world to the brink of a 1930s-style disaster. If regulators don't break them up or otherwise restrain them, they may do worse next time.
At a time when more and more nations are resorting to capital controls and currency intervention, India shows there is another way. Sebastian Mallaby discusses India's intriguing refusal to become a currency warrior.
Published in Spiegel, this interview with German Finance Minister Schäuble provides insight into the relationship between Minister Schäuble and his American counterpart, Secretary Geithner, as well as the German position on the latest financial developments like the recent move towards quantitative easing.
GOP election gains make it less likely Congress will enact needed deficit cuts and more fiscal stimulus, and the Fed's quantitative easing plan could create new bubbles, says CFR Distinguished Visiting Fellow Peter Orszag.
The Federal Reserve's move to inject an added $600 billion into the banking system is bad policy, straining the international monetary order and U.S. credibility abroad, writes CFR's Sebastian Mallaby.
This second installment of the Capital Flows Quarterly series investigates two factors that could substantially alter the long-run value of the U.S. dollar: the dollar's reserve status and the sustainability of U.S. international debt.
By ending the yuan's peg to the U.S. dollar, China will deflect pressure over its currency policy at the upcoming G20 meeting. But tensions will persist over the pace of reform, says CFR's Steven Dunaway.
Benn Steil's article in the Spring/Summer edition of the CATO Journal argues that restraining excessive debt accumulation will require significant changes in the U.S. corporate taxation regime and the principles underlying the conduct of U.S. monetary policy.
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