CenFIS Working Papers feature the research of visiting scholars and distinguished economists. The papers are intended to stimulate professional discussion about financial innovation and financial stability and associated policies. Online only.
U.S. Monetary Policy and the Financial Crisis
James R. Lothian
CenFIS Working Paper 09-01
Comparing monetary policy before and during the current recession to policy during the Great Depression, the author discusses what policymakers must do to avoid an inflation surge and the likely difficulties of making necessary policy shifts.
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