Federal Reserve Bank

A Brave New Way of Conducting Monetary Policy

June 21, 2013

As noted in earlier updates, I was surprised by the clumsily handled signal that quantitative easing might soon be throttled back.  It was out of character with Bernanke’s previous stewardship that had managed to limit the duration and depth of the U.S. 2008-9 recession and achieved a sturdier subsequent recovery than experienced either in Europe […] More