Santa Clara University

Dr. Mario Belotti, the W.M. Keck Chair of Economics, will present "Recent Monetary Policies and Changes in the Federal Reserve's Balance Sheet."

During the last few years, the Fed has engaged in some unusual operations such as the purchase of almost one trillion dollar of mortgage-backed securities (MBS), quantitative easing, Operation Twist, and other policy actions. We will answer the following questions:

• Where is the money coming from?
• Will the policy lead to higher future inflation?
• How are the Fed gains and losses distributed?
• Why is it that the European Central Bank (ECB) has not used the same aggressive policy as the U.S. Federal Reserve?
• What are the effects of the recent currency swap agreement?

Join us for an interesting and timely discussion.