Instead, the Fed picks an interest rate and gears its monetary operations to maintain that rate.
And central banks can widen the range of assets they use for monetary operations.
This would make the bank more accountable to parliament, while not reducing its independence in monetary operations.
Those of us who actually understand monetary operations have long known about the coin and have been pushing it for close to 2 years now.
Key monetary policy operations, such as the LTRO, are working directly through their effects on the banking system and are providing support to large numbers of weak banks.
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The European Central Bank (ECB), which this week stopped conducting some monetary-policy operations with some Greek banks because they were not yet recapitalised, could also do more to reassure depositors by showing that abundant liquidity is on hand.
Operations including its Outright Monetary Transactions (OMTs) and the Long-Term Refinancing Operations (LTROs) helped bring down yields on eurozone sovereign bonds, making it less expensive for governments to borrow on international markets and pay off their interest payments to creditors.
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The list of the International Monetary Fund's failed operations goes on and on.
As the storm gathered during 2008, the Fed aggressively eased monetary policy by using such open market operations (supplemented by discount rate reductions) to drive short-term interest rates to near-zero levels.
Instead, the Fed is tasked with employing its Open Market operations to adjust the size of the monetary base so as to keep the COMEX price of gold as close as operationally practical to a target gold price.
Barclays said investors should expect neutral monetary policy with a bias toward tightening liquidity through open market operations.
Transfer risk by outsourcing internal operations to highly qualified and specialized third parties with a vested and monetary interest in getting it right the first time.
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According to Tina Chen, VP of Operations at HR Outsourcing firm Employco USA, many job seekers are tied to the notion that monetary compensation from a salary is the only factor to consider.
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