The Wind Is Not a River, Brian Payton

Автор: Dawson, Payton E.
Название: Unconventional Monetary Policy and the Federal Reserve
ISBN: 1626186375 ISBN-13(EAN): 9781626186378
Издательство: Nova Science
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Цена: 26768 р.
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Описание: The "Great Recession" and the ensuing weak recovery have led the Federal Reserve (Fed) to re-evaluate its monetary policy. Since December 2008, overnight interest rates have been near zero; at this "zero bound," they cannot be lowered further to stimulate the economy. As a result, the Fed has taken unprecedented policy steps to try to fulfil its statutory mandate of maximum employment and price stability. Congress has oversight responsibilities for ensuring that the Feds actions are consistent with its mandate. This book analyses the economic effects of these programs, the current economic context in which these policies have been adopted, policy alternatives that the Fed has not pursued to date and their potential effects, potential legislative options for restricting the Feds pursuit of unconventional monetary policy, and issues surrounding the eventual "exit strategy" from unconventional policy.