Developing and emerging countries are not just driving the global economy, in fact they are reshaping the approach of central banking by systematically expanding the central banks role of ensuring national financial soundness and stability, to include new technology, consumer empowerment, and financial inclusion. The approach is getting results.
History has shown that it is much easier to stay ahead of inflation than it is to play catch-up. By ignoring this basic truth, US policymakers are both missing a big opportunity and inviting economic disaster.
questions whether the US Federal Reserve could carry out a successful monetary stabilization if needed.