This model may define the next generation of global finance, shaped by digital adoption, institutional evolution and ...

Discover how the Bank of England shapes U.K. monetary policy, sets interest rates, and ensures financial stability, mirroring the function of the U.S. Federal Reserve.

CFR’s Global Monetary Policy Tracker compiles data from 54 countries around the world to highlight significant global trends in monetary policy. Who is tightening policy? Who is loosening policy? And ...

Discover how the monetary conditions index (MCI), which was developed by the Bank of Canada, evaluates economic conditions using interest and exchange rates.

This paper documents that households with higher marginal propensities to consume (MPCs) tend to consume goods with more ...

Before the 2008 global financial crisis, the Federal Reserve’s balance sheet stood somewhere in the neighborhood of $900 billion. In the years that followed, the Fed would embark on a series of ...

In his December press conference, Federal Reserve Chair Jerome Powell said the central bank was embarking on a "new phase" of monetary policymaking. Just what that entails will play out over the next ...

The annual growth rate of the broad monetary aggregate M3 increased to 3.0% in November 2025 from 2.8% in October, averaging ...

Financial conditions indexes summarize a broad range of financial indicators with the goal of measuring how financial markets affect economic activity. Evidence from event studies with high-frequency ...

In economics, a booming economy where everyone has money to throw around isn't always a good thing. Like an engine, the economy can overheat, causing inflation; everyone has more money, but everything ...

Good morning. I’m very pleased to be in such eminent company, especially that of my former advisor at Stanford, John Taylor. And I’ll begin my presentation with a reference to another pathbreaking ...