5  For more information about the FOMC, see www.federalreserve.gov/monetarypolicy/fomc.htm. BIS central bankers’ speeches  5  Lessons learned This brings me to my final task – to offer some career advice to those of you just preparing to enter the business world. As someone who has spent more years than I care to count in that world, let me begin where I began.
I know that Governors Zhou and Noyer fully understand that, by frustrating market mechanisms, such policies raise the risk of a much larger and more disorderly correction in the future, as well as an outbreak of protectionism. But we should not look to exchange rate movements alone to resolve the existing global imbalances.