The report also examines how the rise of nonbank financing has altered the impact of monetary policy and finds that fears of a decline in the effectiveness of monetary policy are unfounded. (imf.org)
Our experience at the zero lower bound in recent years underscores how important expectations are in influencing the effectiveness of monetary policy. (newyorkfed.org)
As President Dudley said in his remarks, medium - term inflation expectations are of «particular importance» because «having reliable measures of inflation expectations is crucial to assess the effectiveness of monetary policy and central bank communications. (newyorkfed.org)