The FOMC’s interest rate policy: how long is the long run?

Daniel Thornton

Economic Synopses, 2011, No 29

Abstract: The only outcome consistent with the Fisher equation holding and the FOMC?s zero interest rate policy is that the ?long run? is considerably longer than 4.5 years.

Keywords: Monetary policy; Interest rates; Federal Open Market Committee (search for similar items in EconPapers)
Date: 2011
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