Description

Book Synopsis
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 Fed''s 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 Fed''s pursuit of unconventional monetary policy, and issues surrounding the eventual "exit strategy" from unconventional policy.

Unconventional Monetary Policy & the Federal

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A Hardback by Payton E Dawson, Dennis A West

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    View other formats and editions of Unconventional Monetary Policy & the Federal by Payton E Dawson

    Publisher: Nova Science Publishers Inc
    Publication Date: 19/06/2013
    ISBN13: 9781626186378, 978-1626186378
    ISBN10: 1626186375
    Also in:
    International law: arbitration

    Description

    Book Synopsis
    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 Fed''s 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 Fed''s pursuit of unconventional monetary policy, and issues surrounding the eventual "exit strategy" from unconventional policy.

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