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New approaches in U.S. FRS monetary policy
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New approaches in U.S. FRS monetary policy
Annotation
PII
S207054760010664-7-
DOI
10.18254/S207054760010664-7
Publication type
Article
Status
Published
Authors
Mikhail Portnoy 
ORCID: 0000-0002-8204-7771
Occupation: Professor
Affiliation: Institute for the U.S. and Canadian Studies of the Russian Academy of Sciences
Address: Russian Federation, Moscow
Edition
Issue 3
Abstract

New approach, which FRS used in its monetary policy last years, is discussed in the article. Understanding the original structure of the U.S. financial system makes clear its difference from the European model. This explains why United States not only can permit to exist big and longrun budget deficits and federal debt, but also use them for economic benefits. Attention is paid to FRS independent status, as a key condition permitting FRS to conduct proper monetary policy. The idea is expressed of importance of outrunning anti crisis policy. It’s important because big business is involved in quick modifications, which bring big social consequences. Special attention is given to the big scale of anti crisis measures in monetary policy – the so called Quantitative Easing programs, which provide the economy with big masses of easy money.

Keywords
United States, FRS, monetary policy, new approach, financial market, budget, federal debt, interest rates, quantitative easing
Acknowledgment
The article was prepared with the support of the RGNF. Grant 15-37-11121 " a / C»
Received
21.07.2015
Date of publication
31.10.2015
Number of purchasers
1
Views
3758
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0.0 (0 votes)
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References

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