Front Matter

Front Matter

International Monetary Fund. Communications Department
Published Date:
April 2015
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    The Federal Reserve and the Global Economy

    Stanley Fischer

    Per Jacobsson Foundation 2014

    ISSN 0252-3108

    Editor: Michael Harrup

    Cover Design and Production: IMF Multimedia Services

    Composition: Apex CoVantage

    The Per Jacobsson lectures are available on the Internet at, which also includes further information on the Foundation. Copies of the Per Jacobsson lectures may be acquired without charge from the Secretary.


    The second Per Jacobsson Foundation Lecture of 2014, “The Federal Reserve and the Global Economy,” was presented by Stanley Fischer, Vice Chair of the Board of Governors of the Federal Reserve System, on Saturday, October 11, in the Jack Morton Auditorium at George Washington University in Washington, D.C., in conjunction with the Annual Meetings of the International Monetary Fund and World Bank. The event was moderated by Per Jacobsson Foundation Chair Guillermo Ortiz.

    The Per Jacobsson Foundation was established in 1964 to commemorate the work of Per Jacobsson (1894–1963) as a statesman in international monetary affairs. Per Jacobsson was the third Managing Director of the International Monetary Fund (1956–63) and had earlier served as the Economic Adviser of the Bank for International Settlements (1931–56). Per Jacobsson Foundation lectures and contributions to symposia are expressions of personal views and intended to be substantial contributions to the field in which Per Jacobsson worked. They are distributed free of charge by the Foundation. Further information about the Foundation may be obtained from the Secretary of the Foundation or may be found on the Foundation’s website (

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