Mehrling Offers Insight on the Life of Charles Kindleberger & Global Dollar System
Professor Mehrling discusses the findings of his latest book, why Charles P. Kindleberger thought the world needed a “key currency,” how the United States Federal Reserve grew to support the dollar as it took on that role, as well as why the dollar system has proved so resilient.
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.