If Central Banks Controlled Interest Rates Then Explain THIS

#recession #money #recession2023 #money  #inflation #deflation #interestrates #dollar #economy #consumer #bankcrisis 
Any amateur (like me) with a passing interest in economics knows the story: the Fed controls the economy by raising or lowering interest rates. Those then affect the banking system's credit impulse which either adds to or takes away from the general economy depending on what CBers wish to accomplish. 

Of course, almost none of that is true. How did it get to be this way? Answering that question reveals a lot more than you might think. 

Eurodollar University's Money & Macro Analysis

ECB Monetary Policy Decisions October 26, 2023
https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp231026~6028cea576.en.html

Bundesbank TPI
https://www.bundesbank.de/en/tasks/monetary-policy/outright-transactions/transmission-protection-instrument-tpi--896158

FOMC Transcript August 1, 2011
https://www.federalreserve.gov/monetarypolicy/files/fomc20110801confcall.pdf

Milton Friedman: A Program for Monetary Stability (1960)
https://miltonfriedman.hoover.org/objects/57536/a-program-for-monetary-stability

FOMC Transcript June 27-28, 2000
https://www.federalreserve.gov/monetarypolicy/files/FOMC20000628meeting.pdf

RBI  Michael Debabrata Patra: Lost in Transmission? Financial Markets and Monetary Policy
https://rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=1338

BOE Catherine Mann: Expectations, lags, and the transmission of monetary policy
https://www.bankofengland.co.uk/-/media/boe/files/speech/2023/february/expectations-lags-and-the-transmission-of-monetary-policy-speech-by-catherine-l-mann.pdf

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