*  *  *  The views expressed by the author are his own and do not necessarily reflect those of the Federal Reserve System, its governors, officers or representatives. Introduction My position on the current stance of our nation’s monetary policy is well known, especially to those who closely follow the Federal Reserve.
This requires meaningful engagement on the key issues such as: •  how can different national policies, including exchange rate regimes, be made to coexist within the international system? •  what are the respective responsibilities of the various nations to foster that compatibility?