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Does the Fed Have Any Idea What It’s Doing? | Jeff Snider & Brent Johnson
Hidden Forces
The Dollar Swap Line Is a Way to Maintain or Get New Allies
The US should be giving it to emerging market countries and especially ones that are going to become important actors in the international system. The people who run these central banks and who staff these central banks are economists, not politicians. They're mostly Keynesians. So they believe the US economy is the US economy. If India runs into a dollar problem, that's not my problem. And I think this is how the US will either maintain or get new allies.
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