# Speech by Vice Chairman Fischer on international effects of recent policy tightening - Federal Reserve Board

> Fed Vice Chairman Stanley Fischer gave a speech on April 19, 2017 arguing that the Fed's accommodative policy during and after the financial crisis probably raised foreign GDP overall. He discussed how U.S. policy spills over to trading partners through exchange rates, domestic demand and global financial conditions, and how foreign economies have responded to ongoing normalization of rates.

- Date: 2017-04-19 · published 2017-04-19T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/71409-speech-by-vice-chairman-fischer-on-international-effects-of-recent-policy
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Fed policy normalization affects the dollar and global financial conditions, which feed into currency-sensitive commodity prices. The speech is general policy commentary with no new decision, so its direct price impact on feed markets is limited.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-06-21 | [Speech by Governor Brainard on "Fed Listens in Cincinnati: How Does Monetary Policy Affect Your Community?" - Federal Reserve Board](https://feedsoft.ai/events/58516-speech-by-governor-brainard-on-fed-listens-in-cincinnati-how-does-monetary.md) | -0.1% | +0.1% |
| DXY | 2022-09-06 | [Board of Governors of the Federal Reserve System](https://feedsoft.ai/events/39787-board-of-governors-of-the-federal-reserve-system.md) | -0.4% | +2.7% |
| DXY | 2024-02-08 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/31865-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | +0.4% | -0.6% |
| DXY | 2024-05-10 | [The Fed - Monetary Policy and Exchange Rates during the Global Tightening](https://feedsoft.ai/events/30140-the-fed-monetary-policy-and-exchange-rates-during-the-global-tightening.md) | -0.8% | +1.1% |
| DXY | 2018-12-20 | [US Federal Reserve raises rates and trims outlook for 2019 rate increases  \| The National](https://feedsoft.ai/events/61493-us-federal-reserve-raises-rates-and-trims-outlook-for-2019-rate-increases-the.md) | -0.1% | -1.1% |

## Sources

- federalreserve.gov: https://www.federalreserve.gov/newsevents/speech/fischer20170419a.htm

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.