Reductions in purchasing power tend to be concentrated among lower-income workers.
Let the Sun Shine In! Policy Transparency Improves Economic Outcomes: The Experience of Monetary Policy with Lessons for Fiscal Policy
Central Bank Forays Into Unconventional Monetary Policies: Explanation, Assessment, and Implications
Bernanke chose to pay interest on bank reserves, which caused banks to hold onto reserves rather than lend them out.
The central bank has acknowledged that it underestimated the inflationary effects of its actions.
Central banks may direct chartered banks to increase lending to borrowers from underrepresented communities.
President Nixon ended the convertibility of the U.S. dollar into gold.
Since the 2008-2009 financial crisis, central banks in Canada and elsewhere have pursued quantitative easing.