The Federal Open Market Committee (FOMC) engaged in a series of extraordinary monetary policy actions in the wake of the Global Financial Crisis of 2007-2008 to support economic activity in the United States. Interest rates were lowered to their effective lower bound and the Fed's balance sheet was greatly expanded through a series of large-scale asset purchase programs. As the U.S. economy has recovered, "normalization" of monetary policy (which will be data-dependent) has drawn closer. This article reviews some factors that may impact the post-normalization course of monetary policy.
Keynote Speech: Federal Reserve Policy in the Post-Crisis Period
The International trade journal ; 29 , 5
2015
Aufsatz (Zeitschrift)
Englisch
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