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Economic Commentary

Can Foreign Exchange Intervention Signal Monetary Policy Changes?

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According to news accounts, on March 3 of this year, 18 central banks spent approximately $500 million to support the international value of the U.S. dollar. The Federal Reserve System was reported to have spent $250 million the previous day. While these interventions may have slowed the decline of the dollar, its future course would depend on subsequent policies undertaken by either the U.S. government or other nations.

05.01.1995ISSN 2163-3738 EC 5/1/1995

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Osterberg, William P. 1995. “Can Foreign Exchange Intervention Signal Monetary Policy Changes?” Federal Reserve Bank of Cleveland, Economic Commentary 5/1/1995.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International