The bottom line is that monetary policy is a lot harder in the post-crisis world. We have learned a lot from the past five years, but there is still … - Christina Romer

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The bottom line is that monetary policy is a lot harder in the post-crisis world. We have learned a lot from the past five years, but there is still much we do not know. Policymakers, including the new Federal Reserve chair, are going to need flexible minds, good research, and the wisdom of ordinary Americans if they are going to meet the challenges that lie ahead.