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April 16, 2025

Monetary Policy Report—April 2025—Risks

Given the unprecedented shift in the direction of US trade policy, there is considerable uncertainty about how tariffs could impact the economy. The degree to which prices will rise and economic activity will weaken is unclear.
March 9, 2006

Renewing the IMF: Some Lessons from Modern Central Banking

Remarks Tiff Macklem Global Interdependence Center Philadelphia, Pennsylvania
As economies have become more interconnected through trade and financial flows in a truly global marketplace, economic developments in one location can quickly have repercussions on the other side of the globe. In 1997, what began as a currency devaluation in Thailand became a crisis with repercussions not just in Asia, but in countries as far away as Russia, Brazil, and Canada.
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