Central Bank Control over Interest Rates: The Myth and the Reality

Jeffrey Rogers Hummel
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Jeffrey Rogers Hummel: Mercury Publication

No 7500, Working Papers from George Mason University, Mercatus Center

Abstract: Many believe that central banks, such as the Federal Reserve (Fed), have almost total control over some critical interest rates. Serious monetary economists are more sophisticated. They realize that central bank control over interest rates is very far fro

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Date: 2017-08-01
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