Federal Reserve Policy and Emerging Markets

January 09, 2014

Testimony
Testimony by CFR fellows and experts before Congress.

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Monetary Policy

In his testimony before the House Committee on Financial Services' Subcommittee on Monetary Policy and Trade, Benn Steil argues that changes in U.S. monetary policy can have significant impact on emerging-market capital inflows and outflows and that the resulting exchange rate movements against the dollar can have large and rapid effects on the level of inflation and exports.

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Monetary Policy

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