Yellen: Monetary Policy: Many Targets, Many Instruments. Where Do We Stand?

Thank you to the International Monetary Fund for allowing me to take part in what I expect will be a very lively discussion.1 Only five or six years ago, there wouldn’t have been a panel on the “many instruments” and “many targets” of monetary policy. Before the financial crisis, the focus was o…

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Yellen: Monetary Policy: Many Targets, Many Instruments. Where Do We Stand?

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