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His willingness to experiment with unconventional monetary-policy devices allowed the Fed to counter financial collapse even as America's politicians were paralysed.
Left to its own devices, Spain would have run a much tighter monetary policy during the first half of the 2000s, but the European Central Bank kept interest rates low, which at the time suited Germany.
Weak countries not only had to rely on their own devices; they had to do so without a currency or a monetary policy of their own to absorb the blow.
That is monetary policy.
(See also monetary policy).
What about monetary policy?
Was it monetary policy?
Loosen monetary policy?
2. Monetary policy works.
Monetary policy is a problem.
Monetary policy did not change.
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