Historically lax policies have become far less accommodative.

Consider monetary and fiscal policies.

Most booms are produced by bad monetary and fiscal policies.

This prideful interpretation amounted to the siren song of an extremely accommodative monetary policy. Unable to disentangle the global and domestic pressures suppressing inflation, a price targeting Fed has erred consistently on the side of easy money.

CAMBRIDGE The United States current fiscal and monetary policies are unsustainable.

A common currency requires unified and centrally agreed monetary and fiscal policies.

Diametrically opposed spending, tax, monetary, and regulatory policies and proposals are proliferating.

Ninth, QE and other unconventional monetary policies can have serious unintended consequences.

Monetary and fiscal policies cannot be expected to turn this situation around.

(g) International Monetary Fund The relevance of national policies to promote growth

The disinflation and ample liquidity created by the accommodative monetary policy of central governments have driven the market interest rates down to the extent that the fixed income markets no longer offer the returns that investors have enjoyed in the past.

China s monetary and foreign exchange policies are now in a state of limbo.

The loose monetary policies of the early 1990s pushed inflation to hyperinflationary levels.

Another variable is how much easier monetary policies in other developed countries will become.

The regional economy would benefit from closer coordination of exchange rate and monetary policies.

A recent mission of the International Monetary Fund described maturing economic institutions and policies.

Indeed, if the Fed makes an inadvertent mistake (the likelihood of this is considerable, given the country s complex situation and the unusually uncertain outlook), it is more likely to err on the side of staying accommodative for too long, rather than tightening monetary policy prematurely.

The franc zone s plight is being compounded by distorted and dysfunctional economic and monetary policies.

As prudent fiscal and financial policies gradually stabilize China s economy, monetary policy must remain neutral.

It will demand global coordination of monetary policies, and some form of global economic governance.

The Great Depression was intensified by poor monetary policy, tax hikes, and protectionist trade policies.

2000 Financial programming and policies, International Monetary Fund Institute, United States of America (2 months)

They understood that democratic countries would need the space to conduct independent monetary and fiscal policies.

Inflation is too stubborn to be tackled without a coordinated set of fiscal and monetary policies.

In many advanced economies, both monetary and fiscal policies have reached the limits of their effectiveness.

Finally, there is a risk of losing sight of any road back to conventional monetary policies.

The second would mean giving up on monetary union in order to be able to deploy national monetary and fiscal policies in the service of longer term recovery.

Unemployment in the US is high, while fiscal and monetary policies have been stretched to their limits.

We get our monetary and fiscal policies right the same way that birds build their nests right.

But they paid a high price, and fiscal responsibility and conservative monetary policies are now the fashion.

Our stable macro economic situation is the outcome of a mix of prudent monetary and fiscal policies.

The usefulness of activist monetary and fiscal policies became widely accepted in the aftermath of the Great Depression.

Indeed, delegating national monetary policies to a Europe wide central bank was intended to solve precisely this problem.

Finally, there is the relationship between oil prices and fiscal and monetary policies in the oil consuming countries.

And it would not dissuade governments intent on pursuing unsustainable monetary and fiscal policies financed by external borrowing.

With such policies in place, the comfort zone for central banks is enlarged sufficiently to loosen monetary policy.

When I consider the European economy, the ECB s failure to provide more monetary support for economic growth appears to be directly analogous to Europe s disastrous monetary policies in the 1930 s.

Only by acknowledging the limits to knowledge can monetary and exchange rate policies have a better chance of succeeding.

Strong economic growth and expansive monetary policies further boosted the trend, as did protectionist measures, such as export restrictions.

Today, as in the 1960 s or 1970 s, we face a fundamentally global problem of inconsistent monetary policies.

We must ensure that international financial, monetary and trade policies are consistent with the requirements and objectives of development.

Policy would still be accommodative if the Fed maintained low interest rates rather than the zero level that was appropriate for a panic.

India can continue to thrive if it invests in physical and human capital and pursues prudent fiscal and monetary policies.

This downward pressure on prices has allowed Western central banks to follow expansionary monetary policies, underpinning higher employment and growth.

Flexible currencies, more transparent monetary frameworks, and sound long term fiscal policies can serve as buffers against capital flow volatility.