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Fed's Kohn doubts coordinated global policy benefit

PARIS
Fri Mar 7, 2008 2:10pm EST

PARIS (Reuters) - Federal Reserve Vice Chairman Donald Kohn said on Friday that globalization makes monetary policy-making more complicated, but he doubts the time has come for central banks to more fully coordinate policy decisions.

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"That does not mean that no circumstances exist in which coordinated monetary policy actions would be beneficial, but such circumstances are probably quite rare," Kohn said in prepared remarks for delivery to a symposium organized by the Bank of France.

He said global integration means that foreign shocks are transmitted more quickly to domestic economies and expressed some concern about the potential impact on inflation if oil prices were to keep rising.

(Reporting by Glenn Somerville; Editing by Andrea Ricci)
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