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Given these costs, I anticipate that monetary policy will be insufficiently accommodative during periods at the nominal interest rate lower bound, which will lead the economy to undershoot the (Fed)’s inflation and employment objectives, fiscal policymakers can mitigate this risk by choosing to maintain higher levels of public debt than markets currently anticipate.

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    Quiz

    Are you a quotes master?

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    In which movie does this quote appear: "Let me tell you something my friend. Hope is a dangerous thing. Hope can drive a man insane." ?
    A Shawshank Redemption
    B Die Hard
    C Blues Brothers
    D Mission: Impossible