Credibility of Optimal Forward Guidance at the Interest Rate Lower Bound

Taisuke Nakata

No 2015-08-27, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Market participants and other analysts generally expect that the federal funds rate will rise from its effective lower bound (ELB) later this year. However, the ELB could again become a binding constraint on monetary policy in the future.

Date: 2015-08-27
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2015-08-27

DOI: 10.17016/2380-7172.1577

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