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Title: | Assessing inflation’s impacts on macroeconomic variables and monetary – fiscal policy regime in the U.S. | Authors: | Luu Minh Thuy | Keywords: | Monetary policy;Inflation;Fiscal policy | Issue Date: | 2023 | Abstract: | The Covid-19 pandemic has resulted in numerous unforeseen and unheard-of economic outcomes, and 2022 has been a year of severe inflation. Almost all countries in the globe have struggled with rising prices. In the United States, the economy suffered a four-decade high inflation and sluggish economic growth due to the imbalance between supply and demand. This study focused on analysing the existing impact of high inflation in 2022 on some key macroeconomic variables and the monetary-fiscal policy regime in the fight against inflation in the United States. Incorporating data and evidence from a multitude of government organizations' reports and experts' analyses is the method used to clarify this issue. The research findings indicate that mistakes in Federal Reserve policy and excessive fiscal spending of Congress partly resulted in sustained inflation that has weakened the U.S. economy. Besides, high inflation creates multiple policy challenges for Federal Reserve and Biden’s Administration. In 2022, along with fiscal tightening, the Federal Reserve raised interest rates seven times to a 15-year high, the economy is retrieving, but inflation remains high. Hence, this study emphasizes a need to put more effort into implementing Congress’s reforms combined with monetary policy tightening to lessen inflation without causing a recession. |
URI(1): | https://epub.vgu.edu.vn/handle/dlibvgu/1673 |
Appears in Collections: | Finance & Accounting (FA) Finance & Accounting (FA) |
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