These are the ethics that made Arthur Andersen such a strong global firm. So, what the firm shredded were not documents – it was their basic ethics. Arthur Andersen destroyed the trust it had earned in 90 years’ time. What can society do in response other than withdrawing the license to operate? This is what happened to Arthur Andersen.
Episodes in which the policy rate is constrained at the lower bound are often associated with disinflationary pressure. Addressing this requires especially forceful or persistent monetary policy measures to avoid negative deviations from the inflation target becoming entrenched.