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What is Unintended Consequences of ZIRP about?

The document summarizes key points from two papers by senior Federal Reserve economists that were presented at an IMF conference. The papers argue that: 1) Monetary policy should focus on how long to delay raising interest rates after tapering asset purchases, not the tapering itself. 2) An "optimal" monetary policy would keep interest rates at zero for longer than suggested by normal models, allowing inflation to temporarily exceed 2% and unemployment to drop below normal rates, to speed economic recove

Author

richardck61

Language

EN