Global Finance and the U.S. Growth Agenda
Global Finance and the U.S. Growth Agenda
This chapter is a case study of the global constraints on United States economic policy making in the early 1960s, focusing on a brief but critical moment when the Kennedy administration attempted to carve out a new growth strategy for the American economy. Focusing on monetary policy, this chapter shows how the Kennedy administration was forced to compromise key aspects of its economic agenda due to the same balance of payments financing pressures that the Labour government faced.
Keywords: Kennedy administration, Council of Economic Advisors, Revenue Act of 1964, Operation Twist, Federal Reserve, balance of payments, financial dependency
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