United States dollar and euro coins hanging

El renuente banquero central del mundo

NUEVA YORK – Se supone que estamos en la era de los bancos centrales poderosos, dispuestos a esgrimir su potencia a nivel mundial. No obstante, el más poderoso de todos – la Reserva Federal de Estados Unidos [la Fed] – también es el banco central más reacio a reconocer su alcance global.

Al igual que todos los bancos centrales, la Fed, tiene un mandato local, el que se enfoca en la estabilidad de los precios y en el empleo a nivel nacional. Sin embargo, a diferencia de la mayor parte de los bancos centrales, la Fed tiene responsabilidades globales. Esta tensión constituye la raíz de algunos de los problemas más amenazantes que la economía mundial enfrenta hoy día.

El que la Fed tenga responsabilidades a nivel global obedece a dos razones que se relacionan estrechamente entre sí, pero ninguna de las cuales tiene mucho que ver con la necesidad de evitar las "guerras de monedas" que tanto preocupaban a Guido Mantega, ex ministro de Hacienda de Brasil.

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