eighted dollar (the current move from last summer) in the Federal Reserve Board's macroeconomic model of the US economy, often just referred to as FRB/US. All else being equal, the simulated shock causes real GDP growth to decrease by about -0.5 percentage points (or 50 basis points) and -0.8 percent

eighted dollar (the current move from last summer) in the Federal Reserve Board's macroeconomic model of the US economy, often just referred to as FRB/US. All else being equal, the simulated shock causes real GDP growth to decrease by about -0.5 percentage points (or 50 basis points) and -0.8 percent

he BOJ and the ECB are at very different stages of the business cycle and are pursuing expansionary monetary policies to lift inflation. What does FRB/US say? To gauge the implications of the strengthening dollar for monetary policy, we simulated a one-time, 16% shock to the real tradeweighted dolla