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.
President Trump’s recent attacks on the U.S. Federal Reserve underscore the important role central banks play in any economy.
In the 1970s the Bank of Canada switched to monetarist money-supply targeting.
The higher-than-expected inflation of the late-1980s was one reason the bank switched to inflation targeting.