Steven Kamin on the Global Influence of Fed Policy and the U.S. Dollar
Macro Musings with David Beckworth
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The Role of the Fed in the Global Financial Cycle
There's this literature on the global financial cycle by Helen Ray. And I believe her story is that there is this common factor when there's a shock to the global financial system and it originates in the Echols building. So we'll be getting to this, but a lot of my research does focus on the so-called spillovers of Fed policy to the rest of the economy. That is true. But just because when the Fed moves that has an impact abroad, that doesn't mean it is the main or only source of movements of developments in theglobal financial system.
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