With inflation moderating and growth stagnating around the world, conditions are ripe for central banks to adopt a more accommodative monetary policy and foster growth.

In the June issue of The Real Economy, RSM’s global team of economists is offering its forecast for the world's major central banks. From the Federal Reserve to the European Central Bank to the Reserve Bank of India, central banks are all on the verge of a regime change that will have a major impact on the global economy and middle market.

One of the outgrowths of elevated interest rates in the United States has been the surging value of the American dollar. The elevated level has put pressure on American exports, raising their prices, and prompted calls in some quarters for a currency intervention to bring it lower. Such a move, though, would be misguided, writes RSM Chief Economist Joseph Brusuelas. Not only would it put upward pressure on prices and weaken demand in the U.S., but it would be doomed to fail, he writes. 

Finally, Brusuelas offers his analysis of what the use of a modified Taylor Rule—a method used by central banks to set interest rates—would bring if central banks around the world adopted it.

We look at these topics and more in this issue of The Real Economy.