In the aftermath of the global recession, ________ has/have been discredited as an indicator of monetary policy, and central banks have been led to look elsewhere.

Question

Quizplus · Accepted Answer

The short-term nominal interest rate has been discredited as an indicator of monetary policy after the global recession, as central banks found that it was not sufficient in predicting and controlling inflation. As a result, central banks have turned to other measures such as inflation targeting, forward guidance, and balance sheet policies to guide their actions.

In the Aftermath of the Global Recession, ________ Has/have Been