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Discussion Paper

Credibility of Optimal Forward Guidance at the Interest Rate Lower Bound


Abstract: Market participants and other analysts generally expect that the federal funds rate will rise from its effective lower bound (ELB) later this year. However, the ELB could again become a binding constraint on monetary policy in the future.

https://doi.org/10.17016/2380-7172.1577

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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2015-08-27

Number: 2015-08-27