Central banks adapt to zero rates, reshape monetary policy post-crisis.
Monetary policy is a way for governments to control the economy by influencing things like prices and employment. Since the 2007-2009 financial crisis, central banks have had to come up with new ways to do this because interest rates are so low. They are now focusing more on influencing what people expect will happen with monetary policy in the future, and on using their assets to control the economy. This raises questions about how monetary policy affects the economy and how to do it effectively.