Fed Must Be Forward Thinking in New Monetary Policy Regime: Bill Dudley

The transcript discusses the repo market and the Federal Reserve's new monetary policy regime, emphasizing the need for a standing repo facility and clearer communication. It addresses market fears about money market fund outflows and highlights the importance of fiscal policy alongside monetary policy, especially during economic downturns. The conversation also touches on the ECB's challenges in Europe and the positive economic outlook for the US, despite geopolitical risks.

What changes in the monetary policy theory does the Fed need to embrace according to the text?

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How does the current regime of paying interest on reserves differ from the old regime?

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What are the two suggestions made for improving the repo market?

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What concerns do traders have regarding the repo market and money market funds?

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What role does fiscal policy play in the context of economic downturns according to the text?

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What is meant by 'automatic fiscal stabilizers' as discussed in the text?

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How does the text describe the economic outlook for the US?

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