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Second Quarter 2014, 
Vol. 96, No. 2
Posted 2014-06-13

Monetary Policy in the United States: A Brave New World?

by Stephen Williamson

This article is a reflection on monetary policy in the United States during Ben Bernanke’s two terms as Chairman of the Federal Open Market Committee, from 2006 to 2014. Inflation targeting, policy during the financial crisis, and post-crisis monetary policy (forward guidance and quantitative easing) are discussed and evaluated.