U.S. Unconventional Monetary Policy and Influences—From Sub-Prime Crisis to COVID-19

Abstract

Under the impact of this year's coronavirus epidemic, the Fed resumed quantitative easing, and in the foreseeable future the monetary policy in the United States will return to normal. In order to deal with the recurrence of the U.S. monetary policy, it is necessary to deeply analyze the unconventional monetary policy and its influence. After the outbreak of the subprime mortgage crisis, the United States adopted unconventional monetary policy to make its economy recover, and this year the United States adopted open-ended quantitative easing to stimulate the economy again. However, whether the U.S. adopts or withdraws from the unconventional monetary policy, it will have a great impact on the world financial market, especially on the emerging economies.