Inflation Expectations, interest on reserves, interest rate targeting, natural rate of interest, QE

Having considered the Fed's pre-crisis approach to monetary control, with its emphasis on interest-rate targets reached with the help of open-market operations, we must now come to grips with the quite different methods it has been employing since, and how the switch to them came about. The…

Claudio Borio, deflation, natural rate of interest, savings glut, secular stagnation

A new issue of the Cato Journal, which collects the proceedings of last year’s Annual Monetary Conference, was released last week.  Those proceedings include a paper by Claudio Borio, head of the Bank for International Settlement's monetary and economic department, which Alt-M readers may find particularly interesting….