Nason, James M.; Plosser, Charles I. - In: Business Review (2012) Q2, pp. 19-26
, the Federal Reserve deployed several innovative policy tools to help relieve the stress in financial markets during the … crisis. These tools have created their own significant challenges for the conduct of monetary policy in the post-crisis era … policy course, and this discretion poses a problem. This is because monetary policy is subject to a time …