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Monetary Policy Challenges and Strategies in the Globalization: An Analysis of the Federal Reserve's Approach to the Trilemma

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  • Guofang Ji

    (JCU Singapore Business School, James Cook University, Singapore)

Abstract

This study explores the Federal Reserve's (Fed's) approach to the financial trilemma in the era of globalization, emphasizing the trade-offs between monetary policy autonomy, exchange rate flexibility, and open capital markets. It delves into the challenges posed by increased global financial integration and the effectiveness of traditional and innovative monetary tools. The paper advocates for the adoption of a macroprudential policy framework to enhance financial system stability without compromising policy objectives. The findings highlight the Fed's strategic use of macroprudential measures alongside conventional tools to navigate the trilemma, illustrating the importance of flexibility and innovation in central banking practices amidst global financial complexities.

Suggested Citation

  • Guofang Ji, 2024. "Monetary Policy Challenges and Strategies in the Globalization: An Analysis of the Federal Reserve's Approach to the Trilemma," Journal of Business and Management Studies, Al-Kindi Center for Research and Development, vol. 6(2), pages 176-179, March.
    • Handle: RePEc:alk:jbms00:v:6:y:2024:i:2:id:6945
    DOI: 10.32996/jbms.2024.6.2.18
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