The Effect Of Postwar American Monetary And Exchange Rate Policy On American Economy

The American economy developed well within sixties years after the Second World War. The factors that caused postwar American economy were complexes, but the factor of the American monetary and exchange rate policy is worth more special attention to pay in the multitudinous factors of the American economy. With the development of the American economy, the effect on the American economy is seemed to be more important by the currency finance policy regulation.Because of it, on the basis of the analysis of postwar American monetary and exchange rate policy evolution with the correlation theories, This article began to analyze the concrete effect of postwar American monetary policy and exchange rate policy to the American economy at different stages of American economy process choosing from two angles of the US dollar with the interest rate. The major points are as follows.On the first angel, I elaborate the effect of the US Dollar superiority to the American economy. During the 50-60 times, US dollar standard and superiority promoted the development of the investment, trade as well as the fiancéwhich are the good foundation for the American economical development. The 70-80 times, carrying out weak US dollar policy helped the American get rid of the crisis while obtaining US dollar hegemony income. During the 90 times, strong policy impelled the American economy in a high speed. It got rid of the financial deficit for US, made the contribution for the US economic structure adjustment and also provided the support with the trade deficit. Certainly, the US dollar policy also has negative effect. The US dollar crisis in the early 60's and 70's is the negative effect caused the by American exchange rate policy.On the second angel, I analyze the effect of the neutral monetary policy to the 90's economical development. After the 90's, on the basis of the Taylor rule, the neutrality became the essential feature of the American monetary policy. The neutral monetary policy has the features of moderate, the continuity and the public transparency. It has utilized the anticipated theory well in order to reduce interest rate change to the initial data sensitivity .It has suppressed the inflation rise, realized the unemployment rate drop under the low currency rate. It also has played the vital role on the expansion of the American economy, slowed down the international market change to the American economical impact. Certainly, the effect of the neutral monetary policy should be dialectically analyzed. It only lengthened the Americaneconomical development cycle, alleviated the American economical contradictory, but it is impossible to solve the contradictory truly because of the economical system.The American monetary policy and exchange rate policy gave us two inspires. Firstly, the organic combination of the planned regulation with the market regulation and the market-oriented economic system with the government's macro-control system is one of the basic laws on the development of modern human civilization. Secondly, we should study the American experience to use the right monetary policy to smoothly develop our economy, and at the same time, we should also keep a close eye on American exchange rate policy in case they transfer their economic difficulties to us.