With unemployment still high and declining only gradually, and with inflation running below the Committee’s longer-run objective, a highly accommodative monetary policy will remain appropriate for the foreseeable future. In normal circumstances, the Committee’s basic tool for providing monetary accommodation is its target for the federal funds rate.
However, the target range for the federal funds rate has been close to zero since late 2008 and cannot be reduced meaningfully further.
Börsen-Lyrik von
Ben Bernanke
Fed-Vorsitzender
Das komplette Gedicht gibt es hier.
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