Impact Of Federal Reserve Policy: Now And Ahead
Dr. Satyendra S. Nayak is an independent financial advisor and consultant. His experience stems from over 30 years of working in Banking and Mutual Fund industry, covering working in operations, international finance, project financing, foreign exchange, mutual fund management, equity and debt investments, portfolio management, and economic and investment research and strategy. He received his Ph.D. in International Economics and Finance from the University of Bombay, India. He is also a Professor at ICFAI Business School in Mumbai in the Centre for Advanced Banking and Finance Studies. He has published several articles and papers on India’s balance of payments, the exchange rate of the rupee, Euro Dollar market, the behavior of US Dollar, international finance, Indian capital markets, the stock market and mutual funds, US financial crisis, and Keynesian economics. His earlier book ‘Global Monetary Experience and India’ won the Bhateja Memorial Award for the best book in economics in 1995. His second book ‘Globalization and the Indian Economy: Roadmap to Convertible Rupee’ was published by Routledge in 2008. He submitted a report on Roadmap for Fuller Convertibility of Indian Rupee to the Reserve Bank of India in 2006 and a number of recommendations made in the convertibility report were accepted by the Official Committee. He has addressed several national and international seminars, workshops and training programs in India and abroad on exchange rates, foreign exchange, international banking, and euro currency market, capital markets, investment management, emerging markets, country funds, mutual funds, economic environment, budget, and other related topics. He was a Member of Study Team appointed by the Asian Development Bank on the Reform of Indonesian Capital Market.
His latest book Global Financial Crisis: Genesis, Policy Response and Road Ahead takes a both micro and macro view of the crisis. It examines the evolution of the global monetary system and looks at the crisis from a systemic angle. It examines the institutional changes in American capitalism and market mechanisms. The dynamics of the market and its cyclical characters are discussed. It examines the structural changes in the US economy. The role of globalization and international funds flow, their changing character and the growing interdependence among nations have been examined. At the micro level, the book discusses the subprime market and the gaps in the system that created the crisis. It deals with the supervisory structure and growing influence of the derivatives market and the synthetic products that are threatening the financial system. It also analyzes the fundamental changes in the global trading and payments patterns, which are influencing the US balance of payments and the US dollar. The secular changes in the structure of the US economy are impacting the global economy. The work deals with the measures taken to resolve the crisis both in the US and on a global scale. The reforms necessary to avoid the recurrence of the crisis are outlined. The study aims to underline these factors and draw a perspective for the US dollar. It is also proposed to draw a scenario for a more efficient and equitable global monetary system with a role for the US dollar along with a new vehicle for international payments and finance. This would also include the reform of the global economic system and the IMF. The special feature of the book is that it takes a holistic view of the problem. The systemic and macro issues are discussed in addition to its microanalysis.
In today’s fast-changing world financial environment plays a crucial role in influencing the economic growth, investments, employment, external trade, inflation, interest rates, credit demand and supply, exchange rates, purchasing power, consumer spending, Government Budget, and also your wealth, investment, financial planning, and economic wellbeing. It is, therefore, imperative to understand how the policy of the Federal Reserve Bank influences the above parameters in the economy so as to plan more effectively and proactively thwart the adverse effects and take advantage of positive aspects of the policy.
The webinar will cover the functions of the Federal Reserve Bank and its operations. The topic will discuss its organization and the instruments it uses to control the money supply and its price, i.e. rate of interest. I will analyze how it uses the Fed Funds Rate and Open Market Operations to regulate the money supply and credit cost. It will also outline how these operations influence the overall economy through consumer demand, housing demand and supply, investments, employment, price level, and inflation, foreign trade and the exchange rate of the dollar. Federal Reserve policy also affects the stock market and the debt market.
It will cover how the policies of the Federal Reserve have changed over the years and how it has responded to the demands of the economy. How it responded to the crisis of 2008 with sub-zero interest rate policy and Quantitative Easing, and how it is normalizing its policy now. Restoring its balance sheet. What are the challenges ahead?
- Functions of the Federal Reserve Bank
- How does it operate?
- What are the instruments through which it governs?
- It's an influence on Money supply and interest rates
- Mechanism of its effect on the economy
- Its effect of consumer spending, housing demand and supply, investment, foreign trade, and exchange rate
- Financial Crisis
- Sub-zero interest rate policy
- Quantitative Easing
- Normalization of Policy
- Restoring its balance sheet
Course Level - Basic and Fundamental
Who Should Attend
- Wealth Managers
- Finance Managers
- Financial planners, and advisers
- Banking managers
- Small businesses