文章基本信息

标题：President's Message: The Fed’s Latest Balance-Sheet Policy: What Constitutes Substantial Labor-Market Improvement?
本地全文：下载
作者：James Bullard
期刊名称：Federal Reserve Bank of St. Louis - Regional Economist
出版年度：2013
出版社：Federal Reserve Bank of St. Louis
摘要：
Monetary policy should be dependent on the state of the economy, or "state-contingent," rather than based on fixed dates. As I have argued since 2009, the Federal Open Market Committee (FOMC) should take this approach to balance-sheet policy, such as large-scale asset purchases or "quantitative easing," just as it did with interest-rate policy prior to the financial crisis.1