3-Jackson Hole 2005
United states of America has political and economic influence all over the world.With 33 crore people out of 759 cr world population(around 5%) its GDP is more than 20% of worlds GDP(Nominal not PPP). US Defence budget a year is almost equal to all other countries defence budgets put together. US spending on health care is more than India's annual GDP. In a Nation's economic well-being two things play important role. Fiscal policy, Govt decides, deals with how Govt gets its money and spends. Second one is monetary policy, controlled by central bankers.Given the size of economy , policies in US not only affect US, but rest of the world as well, in the globalised world. Federal reserve which controls the monetary policy in US.Alan Greenspan was Fed Chairman for 18 years in US . A raise in interest rate, or a cut, could not only affect US but the entire worlds economy. During Clinton regime , US economy had a robust growth. When there is a good growth, the unemployment rat...