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Was the zero bound holding back the Fed during 2009-15?

Most people thought the answers was yes.  I thought it was no.  Here’s a question for the zero bound worriers.  If the zero bound was holding back the Fed during 2009-15, then what’s been holding back the Fed over the past 20 months? Inflation is still below target. Ignacio Morales set me an interesting graph […]
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