The US government changed long - standing monetary policy rules when faced with a crisis, such as when it cut the dollar's connection with gold for both domestic and international payments. (businessinsider.com)
Powell has also voiced his opposition to a strict monetary rule but in his testimony he noted that the Fed «routinely consults monetary policy rules» to use as guidelines in setting policy. (insurancenewsnet.com)
Chair Yellen is a Keynesian policymaker who is willing to look past traditional monetary policy rules in her mission to meet the FED's dual mandate. (kekselias.com)