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Clive Crook: Dreaming of 'Normal' Monetary Policy
The U.S. Federal Reserve wants to get monetary policy back to normal without scaring or surprising the financial markets. Now, try defining "normal," and you can see it's going to be difficult.
A vital instrument of abnormal monetary policy has been the promise to keep interest rates at (roughly) zero for an extended period. Once rates have
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Posted: March 26, 2015 Thursday 07:00 AM