Name: Lael Brainard
Summary: Unconventional Monetary Policy and Cross-Border Spillovers: "Looking ahead, a further weakening of foreign growth could pose downside risks to the U.S. outlook. Under normal circumstances, policy in the United States could adjust to signs that spillovers from developments abroad were affecting activity in the United States. But with policy rates in the United States at the lower bound, the ability to offset spillovers from adverse developments in foreign economies with conventional policy is constrained, suggesting greater caution than normal."
Substantially Similar to Prior Statements: No
Statement Date: November 6, 2015
Publication Date: November 6, 2015All Members All Statements