Fiscal policy should balance growth, equity, and sustainability concerns, including protecting society's most vulnerable.

Having a proper understanding of countries' external positions - current accounts, stock positions, and currencies - is critical to highlight policymakers' shared responsibility to tackle external imbalances before they become too risky.

In reality, while currency movements can have a significant impact on inflation in other countries, dollar movements have rarely had a meaningful or durable impact on prices in the U.S.

With all the globalisation that has taken place, countries are a lot more interdependent and therefore 'coupled.'