To achieve buy-in by households and businesses, a comprehensible, credible, and actionable makeup strategy will need to be followed by years of central bank policy consistent with that strategy. The second question asks about the adequacy of the Fed’s toolkit for providing stimulus when facing the ELB.
enhancing productivity Now, the reason for adopting new technologies, revamping management and work processes, and upgrading labour skills is that we, as a nation, can become more efficient and more productive. Productivity growth is the key to rising real incomes and improved standards of living over the longer run. But, you may ask, how does monetary policy fit in all this?