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Tag Archives: Charles L. Evans
At the Fed: What did come next?
September 22 the Federal Reserve initiated “Operation Twist” where they announced that they would start restructuring its debt by buying up long bonds with the proceedings from short bond sales, with the aim of lowering the long-term yields. As I mentioned in my post on that occasion, the Fed and Ben Bernanke had then exhausted the three main ways of conducting unconventional monetary policy as defined by Bernanke himself in a paper from 2004: I. Shaping Interest-Rate Expectations; II. Altering the Composition of the Central Bank’s Balance Sheet; III. Expanding the Size of the Central Bank’s Balance Sheet. In case nothing new would happen to the American economy, the obvious … Continue reading
Posted in Economics, Macroeconomics, Monetary policy
Tagged Ben Bernanke, Charles L. Evans, Federal Open Market Commitee, Nominal GDP target, Paul Krugman, Unconventional monetary policy, United States
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