The Efficacy of the FOMC’s Zero Interest Rate Policy

descriptionPublicationkeyboard_double_arrow_right Article 01 Jan 2012Publisher:Federal Reserve Bank of St. LouisJournal:Economic Synopses, volume 2,012

Authors: Daniel L. Thornton;

doi: 10.20955/es.2012.23

The Efficacy of the FOMC’s Zero Interest Rate Policy

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Abstract

If investment spending is sufficiently insensitive to interest rate changes and the effect of Fed actions on interest rates is sufficiently weak, the net effect of the persistent zero interest rate policy could be negative.

Keywords

Federal Open Market Committee ; Monetary policy ; Interest rates

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