The article discusses how major central banks changed their monetary policies during and after the global financial crisis. It explores the challenges and controversies that arose from these policy changes and predicts future shifts in monetary policy. Despite injecting large amounts of money and keeping interest rates low, inflation in the US and Eurozone stayed low. The growth of banking credit in the US also slowed down significantly after the subprime crisis. The central banks faced dilemmas between providing emergency funds and preventing risky behavior by banks. The European Central Bank had unique challenges during the financial crisis.