Monetary Policy and Economic Performance Since the Financial Crisis.

The analysis in this article was presented to the Federal Open Market Committee as background for its discussion of the Federal Reserve's review of monetary policy strategy, tools, and communication practices. The Committee discussed issues related to the review at five consecutive meetings from July 2019 to January 2020. References to the Federal Open Market Committee's current framework for monetary policy refer to the framework articulated in the "Statement on Longer-Run Goals and Monetary Policy Strategy" first issued in January 2012 (FOMC, 2021). [ABSTRACT FROM AUTHOR]