Fed must account for spillovers of monetary policy – Yellen

Janet Yellen of the Federal Reserve
Day Donaldson/Flickr

Former Federal Reserve chair Janet Yellen says it is necessary for the Fed to take into account the spillover effects of its monetary policy measures on the global economy.

“We are part of a globally integrated economy; what happens outside our border affects the US, it affects monetary policy,” Yellen said. “It is also recognised that US monetary policy, to the extent that it affects the global economy, then has spillbacks to the US, and it’s important to take those into account.”

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