Ad Hoc Monetary Policy

One of the defining features of U.S. monetary policy over the past five years has been its incredibly ad hoc nature. Over this time, the FOMC has conducted monetary policy with a spate of make-it-up-as-we-go-along programs (QE1, QE2, Operation Twist, QE3, and the Evans Rule) that it hoped would spur a robust recovery. These programs […] View the full post at: Ad Hoc Monetary Policy Related posts: The Market-Perceived Monetary Policy Rule Delong’s Peculiar Definition of ‘Monetary Policy’ What Was the Stance of Monetary Policy Late Last Year?