1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21102January 9, 2002International Capital Flows Following theSeptember 11 AttacksJames K. JacksonSpecialist in International Trade and FinanceForeign Affairs, Defense, and Trade Divi
2、sionSummaryA major concern following the terrorist attacks on New York and Washington wasthat foreigners would curtail their purchases of U.S. financial assets and reduce the totalinflow of capital into the U.S. economy, thereby weakening the value of the dollar. TheFederal Reserve moved aggressivel
3、y on its own and in tandem with other central banksat an unprecedented level to avert a potential crisis in the markets. These efforts werelargely successful: by year-end U.S. equity markets slowly recovered their pre-attackvalues; and the exchange rate value of the dollar returned to its pre-attack
4、 rate afterfluctuating within a fairly narrow range. Data also indicate that capital outflows werehigher than normal for the month of September, but panic selling of U.S. assets did notoccur. This report will be updated as warranted.BackgroundThe September 11 attacks on New York and Washington struc
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