What We've Learned About Unconventional Monetary PolicyGuest Post
What We've Learned About Unconventional Monetary Policy
In a recent BloombergView piece, Noah Smith writes that: “It’s becoming clearer that the Fed's experiments during the Great Recession, dramatic as they were, taught us little about how monetary policy works.” In this post, I argue an alternative perspective. I describe three lessons that we’ve learned since late 2008:
- unconventional monetary policy tools don’t have extreme downside risks
- central banks can control inflation . . .
This content is exclusively for paying members.
If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.