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Monetary Policy at the Zero Lower Bound, February 15, 2011

Papers presented at the Federal Reserve Bank of San Francisco's annual macroeconomics conference explored the effects of Federal Reserve long-term bond purchases on longer-term interest rates; improvements to macroeconomic models to better account for the zero bound; and optimal monetary policy at the zero bound. Although the zero lower bound is a substantial constraint on traditional monetary policy, the Fed still has other policy options available that can improve U.S. economic performance.


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    Federal Reserve Bank of San Francisco

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    Federal Reserve Bank of San Francisco. Monetary Policy at the Zero Lower Bound, February 15, 2011. https://fraser.stlouisfed.org/title/9949, accessed on September 1, 2026.