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Jeremy Stein, director of the Federal Reserve, said the U.S. central bank has to monitor the impact of their policies on the rest of the world, but can not act contrary to the mandate, which is to ensure price stability and higher level possible U.S. jobs. He spoke at the spring meeting of the IMF and World Bank in Washington.
While it is important that the Fed monitor the impact of their policies on the rest of the world, it is difficult to argue that he take measures "that dramatically contradict our mandate," Stein said. Recently, the Fed has been criticized in emerging countries for fueling volatility capsule in financial markets capsule with its policy of extremely low interest rates. "Doing the right thing the U.S. is probably positive, capsule ultimately, for the world economy," he added. Source: capsule Dow Jones Newswires. Source: AE
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