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Central Bank Control over Interest Rates: The Myth and the Reality

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  • Hummel, Jeffrey Rogers

    (Mercury Publication)

Abstract

Many believe that central banks, such as the Federal Reserve (Fed), have almost total control over some critical interest rates. Serious monetary economists are more sophisticated. They realize that central bank control over interest rates is very far fro

Suggested Citation

  • Hummel, Jeffrey Rogers, 2017. "Central Bank Control over Interest Rates: The Myth and the Reality," Working Papers 07500, George Mason University, Mercatus Center.
    • Handle: RePEc:ajw:wpaper:07500
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    File URL: https://mercury.mercatus.org/Product/ViewFinalCopy/581
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    Cited by:

    1. Anthony J Evans, 2020. "The natural rate of interest: An estimate for the United Kingdom," Economic Affairs, Wiley Blackwell, vol. 40(1), pages 24-35, February.
    2. Jordan, Jerry L. & Luther, William J., 2022. "Central bank independence and the Federal Reserve's new operating regime," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 510-515.

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