Grimes Comments on U.S. Interest Rate Hikes & Global Exchange Rates
While the Federal Reserve will likely raise interest rates again, Professor Grimes argues that the cycle of monetary tightening is coming to an end. However, the Bank of Japan is not in a position to tighten its monetary policy. As a result, Grimes does not envision the dollar/yen exchange rate moving as much as people expect.
Mehrling Publishes Policy Brief on International Liquidity Provision
Professor Mehrling argues the international system is tiered, one that is a global dollar system, with the Fed operating as the de facto global central bank providing international lender of last resort support to the system.
Grimes Gives Talk on East Asian Monetary System at UPenn
Prof. William Grimes delivered a talk entitled “Remaking the East Asian Monetary System: Institutionalizing a New Order?”