A central bank should always be able to generate inflation, even when the short-term nominal interest rate is zero ...[this] more direct method, which I personally prefer, would be for the Fed to announce ceilings for yields on all longer-maturity Treasury debt.
- Ben Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002
Bernanke doctrine (3) Lower interest rates – all the way down to 0 per cent.
Bernanke observed that people have traditionally thought that, when the funds rate hits zero, the Federal Reserve will have run out of ammunition. However, by imposing yields paid by long-term Treasury Bonds.
He noted that Fed had successfully engaged in "bond-price pegging" following the Second World War.
중앙정부는 언제나 인플레이션을 유발할 수 있어야 합니다. 단기 명목금리가 0%인 상황에서도. 개인적으로 선호하는 직접적인 방법은 연방은행이 모든 장기 국채의 금리 상한을 발표하는 것입니다.
- 벤 버냉키
http://en.wikipedia.org/wiki/Bernanke_doctrine
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
http://finclip.blogspot.com/2002/11/remarks-by-governor-ben-s-bernanke.html
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