On November 28, WANG Jian, a senior economist with the Federal Reserve Bank of Dallas, was present at the Tsinghua PBCSF Financiers Forum to give a real picture of FED.
By analyzing Fed's unique dual structureintroducing its history, Wang clarified the misunderstanding that people have of the Fed, interpreted the subprime crisis which brought the Fed to the eye of storm of world public opinionthe most controversial QE policy.
Wang thought many Chinese remain habitually resistant to something,the emotion has hindered China from getting a full picture of the worldblending itself into the world. One example is many people's misunderstanding of the Fed.
Wang said, nowadays global economic issues are complexeconomic issues need to be interpreted from the perspectives of economicsdata. Many problems in emerging markets are caused by their wrong policies. They must learnrecognize the changes in international environment. The general direction of China's financial reform is right, but steps are important.
Wang Jian is a senior research economistadvisor at the Federal Reserve Bank of Dallas. He joined the Dallas Fed in October 2006. His primary research interests include open economy macroeconomics, international financemonetary economics. He has also worked on topics such as optimal exchange rate policy, the exchange rate pass-throughthe exchange rate determination. His articles have appeared in such publications as the?Journal of International Economics, Journal of Money, CreditBanking, Journal of International MoneyFinance?and?Journal of Development Economics.
Wang's primary responsibilities at the Dallas Fed include briefing the Bank's president on international economic conditions for the FOMC meetingswriting articles for Bank's publicationsscholarly journals. Wang taught at Southern Methodist Universityheld visiting positions at the Bank of EnglandHong Kong Monetary Authority. He also currently serves as editorial board member of Pacific Economic Review. Wang holds a PhD in economics from the University of Wisconsin—Madisonan MA from the University of Arkansas—Fayetteville.