Monetary policy affects economic activity through its impact on financial conditions — including the level of equity prices, bond yields, the foreign exchange value of the dollar and credit conditions. (newyorkfed.org)
The economy continues to gain strength, and the minutes said a decline in the foreign exchange value of the dollar was also likely to put upward pressure on inflation. (nytimes.com)
It holds that recent monetary policy tightening has not tightened overall financial conditions as reflected in credit and term premiums, stock prices, and foreign exchange values. (larrysummers.com)