The Outlook for the Economy and Monetary Policy Communications
Loretta J. Mester discussed her outlook for the economy and monetary policy and offered some suggestions for improving Federal Reserve communications at the 31st Annual NABE Economic Policy Conference in Washington, DC.
Rewriting Monetary Policy 101: What’s the Fed’s Preferred Post-Crisis Approach to Raising Interest Rates?†
For many years prior to the global financial crisis, the Federal Open Market Committee set a target for the federal funds rate and achieved that target through small purchases and sales of securities in the open market. In the aftermath of the financial crisis, with a superabundant level of reserve balances in the banking system having been created as a result of the Federal Reserve's large-scale asset purchase programs, this approach to implementing monetary policy will no longer work. This paper provides a primer on the Fed's implementation of monetary policy. We use the standard textbook model to illustrate why the approach used by the Federal Reserve before the financial crisis to keep the federal funds rate near the Federal Open Market Committee's target will not work in current circumstances, and explain the approach that the Committee intends to use instead when it decides to begin raising short-term interest rates.
An assessment of the Impact of Devolution on Women Empowerment in Nakuru County
-Women have been grossly marginalized in organs of decision-making and governance structures. The Constitution of Kenya has sought to bridge this gap by providing both women and men the right to equal treatment, including the right to equal opportunities in political, economic, cultural and social spheres. However, gender equality has not been achieved and women are still lagging in terms of decision making processes. The main objective of the study was to detemine the impact of devolution on women empowerment in Nakuru County. The study found that substantive women representation, development of programs and accessibility of services had a positive effect on the women empowerment in Nakuru County. The study also found out that increased accessibility of Services by women influenced women empowerment, this study also concludes that the introduction of development programs had the greatest impact on women empowerment in Nakuru County. The study recommends that more programs targeting women should be introduced as these have the greatest impact on women empowerment. The findings may be used to make conclusions and recommendations.