Comparative analysis of the monetary policies applied during 2022-2023: United States and Eurozone

Fraixedas Lucea, Ariadna
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This paper analyzes the behavior of the Federal Reserve (Fed) and the European Central Bank (ECB) concerning their interest rate decisions from the beginning of 2022 until 2023. The primary goal of the policies implemented was to lower the elevated inflation rates generated after the COVID-19 crisis and the start of the Russian invasion of Ukraine. Both had to change their monetary strategies and put into place a restrictive one, which involved hiking their interest rates. The methods these banks have employed, as well as their intensity and timeliness, have differed. Although not just as a result of the monetary policies used, inflation has decreased. The decline in energy costs is one of several reasons that have contributed to lower prices. The unemployment rate has remained low, and the economies are still expanding, although more slowly ​
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