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The zero lower bound (ZLB) or zero nominal lower bound (ZNLB) is a macroeconomic problem that occurs when the short-term nominal interest rate is at or near zero, causing a liquidity trap and limiting the central bank's capacity to stimulate economic growth.
US inflation rates. Zero interest-rate policy (ZIRP) is a macroeconomic concept describing conditions with a very low nominal interest rate, such as those in contemporary Japan and in the United States from December 2008 through December 2015 and again from March 2020 until March 2022 amid the COVID-19 pandemic.
In the height of the financial crisis in 2008, the Federal Open Market Committee decided to lower overnight interest rates to zero to help with easing of money and credit. Over the past five years, the Federal Reserve has acted to support economic growth and foster job creation, and it is important to achieve further progress, particularly in ...
A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers holding cash rather than holding a debt (financial instrument) which yields so low a rate of interest."
Monetary policy rules targeting properly measured monetary aggregates may better characterize central bank actions, particularly during recessions and zero lower bound periods [69]. In 2022, the International Monetary Fund registered that 25 economies, all of them emerging economies, used some monetary aggregate target as their monetary policy ...
Zero is the infimum in of the set {/, /, /, …}. (If K {\displaystyle K} contained a positive infinitesimal it would be a lower bound for the set whence zero would not be the greatest lower bound.) The set of elements of K {\displaystyle K} between the positive and negative rationals is non-open.
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By the least-upper-bound property, S has a least upper bound c ∈ [a, b]. Hence, c is itself an element of some open set U α, and it follows for c < b that [a, c + δ] can be covered by finitely many U α for some sufficiently small δ > 0. This proves that c + δ ∈ S and c is not an upper bound for S. Consequently, c = b.