The AD-AS Model and the Effects of Monetary Policy
In a speech, titled Recent Economic Developments, Monetary Policy Considerations and Longer-Term Prospects (https://www.federalreserve.gov/newsevents/speech/powell20160628a.htm.), in June 2016, Jerome Powell, a member of the Federal Reserve’s Board of Governors, then, stated that the fraction of the U.S. population aged 25 to 54 who were working or actively looking for work “is now below those of most […]
