New Head of the FRS Faces New Problems
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New Head of the FRS Faces New Problems
Annotation
PII
S032120680000358-7-1
Publication type
Article
Status
Published
Authors
Mikhail Portnoy 
Affiliation: Institute of U.S. and Canadian Studies RAN (ISKRAN),
Address: Russian Federation, Moscow
Edition
Pages
44-52
Abstract

Main problems which Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System has to decide are being considered. These are: maintaining economic growth, preparation to the next crisis, and adaptation of the banking system to the challenges of the digital and cryptocurrencies revolution. The probable record duration of the economic growth make Federal Reserve to be careful with its monetary policy. The "Economic Growth, Regulatory Relief, and Consumer Protection Act" approved recently makes Federal Reserve to reshape its approach to banking regulation. A strong challenge to Federal Reserve monetary policy creates the digital and cryptocurrency revolution. It makes necessary the reconstruction of the banking system and its regulation.

 

Keywords
Jerome Powell, Federal Reserve System, monetary policy, interest rates, digital revolution, cryptocurrency
Received
06.06.2018
Date of publication
07.08.2018
Number of purchasers
10
Views
831
Readers community rating
0.0 (0 votes)
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References

1. Portnoy M.A. 1998. Den'gi: ikh vidy i funktsii [Money. Its Kinds and Functions]. M.: Ankil, 284 p.

2. Portnoy M.A. 2015. Sovremennye den'gi. Utochnenie poniatii [Money Today. Adjustment of Concepts] // USA  Canada, No. 11, p. 45-61.

3. Portnoy M.A. 2017. Den'gi v natsional'nom i mirovom khoziaistve [Money in Domesric and the World Economy]. M.: Magistr. 482 p.

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