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Monetary policy stands as a pivotal instrument for macroeconomic management, pivotal in stabilizing economies, fostering growth, and mitigating inflationary pressures. In the wake of global financial upheavals, the efficacy and adaptability of monetary policy have garnered heightened scrutiny. The United States, boasting the world's largest economy, and the Federal Reserve, a stalwart among central banks, wield profound influence on global financial dynamics via their policy decisions. Each action taken by the Federal Reserve reverberates across borders, profoundly impacting numerous nations. Amidst global financial turmoil, the Federal Reserve's role assumes paramount significance. These crises inflict profound repercussions on both national economies and individual livelihoods. This paper endeavors to delve into the historical influence of United States monetary policy and the Federal Reserve on global financial crises, scrutinizing their interventions and assessing their efficacy. By tracing their impact across different epochs, this study aims to provide insights into the mechanisms through which monetary policy shapes the trajectory of global financial crises, shedding light on avenues for improvement and resilience-building measures.
Zikun Wang (2024) studied this question.