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Following the experience of the global financial crisis, central banks have been asked to undertake unprecedented responsibilities. Governments and the public appear to have high expectations that monetary policy can provide solutions to problems that do not necessarily fit in the realm of...
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policy to contribute best to the economy over time. Fear of liftoff-the reluctance to start the process of policy … occasionally adapt to the evolving understanding of the economy. Congressional legislation could guide the Federal Reserve in this …
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