About the Global Institute

The Global Institute, established in 2024, builds on the Dallas Fed’s strong legacy of international research, adopting a more integrated approach to advancing policy-relevant work. By leveraging the Eleventh District’s competitive strengths, the Institute aims to deepen partnerships within North America and with key global economic players. Its mission is to explore emerging global and regional trends and their implications for the U.S. economy and monetary policy. With its research expertise, new collaborations, and multidisciplinary perspective, the Global Institute is poised to provide valuable insights and lead discussions on the global economy, with special emphasis on the U.S.–Mexico relationship.

History

The Institute traces its origins to the Center for Latin American Economics (CLAE), founded in 1992, just before North American Free Trade Agreement (NAFTA) came into effect in 1994. CLAE played a pivotal role in enhancing public understanding of economic policy in Latin America, fostering dialogue through conferences and partnerships with scholars and central bankers. Its widely disseminated research made significant contributions to the field.

Motivated by the increased globalization of the U.S. economy, and the desire to study U.S. monetary policy from that standpoint, the Globalization and Monetary Policy Institute was established and announced by Chair Bernanke in 2007, succeeding CLAE. Later known simply as the Globalization Institute, its efforts helped broaden research across the Federal Reserve System to examine how global economic integration affected monetary policy and its trade-offs, particularly with respect to inflation.

While expanding CLAE’s agenda, the Globalization Institute emphasized peer-reviewed academic work, bolstering the Dallas Fed’s reputation in international macroeconomics and finance. This included research on immigration and trade, providing deeper insights into the economic, financial, and social ties shaped by NAFTA and, since 2020, its successor, the USMCA (United States–Mexico–Canada Agreement). Building on these achievements, the Global Institute brings a bold new agenda, positioning the U.S. economy’s profound global connections at the forefront of research and policy.