Fed may switch to balance sheet as determinant of monetary policy
With benchmark interest rates approaching zero, it may prompt the Fed to switch to using its balance sheet as key determinant of monetary policy.
Central banks around the world are shifting away from the dollar as major reserve currency but Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said the trend is likely to create more diverse global reserves instead of shifting to another dominant currency.