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Federal Reserve Bank of St. Louis
Economic Synopses
Is the FOMC’s policy inflating asset prices?
Daniel L. Thornton
Abstract

Keeping the policy rate significantly and persistently below "long-run equilibrium rates" may inflate asset prices.


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Daniel L. Thornton, "Is the FOMC’s policy inflating asset prices?" , Federal Reserve Bank of St. Louis, Economic Synopses, number 18, 2011.
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Keywords: Federal Open Market Committee ; Asset pricing
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