The Unintended Consequences of the Zero Lower Bound Policy

CFA Digest
August 2017 | Vol. 47 | No. 8
Source: CFA Institute
Marco Di Maggio Marcin Kacperczyk
Rich Wiggins, CFA (Reviewer)



In the aftermath of the global financial crisis of 2007–2008, the US Federal Reserve aggressively pushed down short-term interest rates to promote an atmosphere of price stability and an economic environment conducive to sustainable economic growth. The authors discuss the impact of near-zero interest rates on financial institutions.

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  • Economics:
    • Relationship of Economic Activity to the Investment Process
    • ·
    • The Monetary System
  • Fixed Income:
    • Macroeconomic Effects on Fixed-Income Yields
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