I`ve been stuck with this question. I have to talk about Powell's speech identifying two possible points (one positive about monetary policy and one negative about monetary policy). This has to be related to monetary policy and I have to cite the points for comparison. The speech had been delivered on August 23, 2019
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Answer -
Advantage -
Since the monetary policy is implemented by the central bank which is an independent institution and does not work under the influence of any political power , the operations of the fed ensure the transperancy in its working .
Disadvantage -
The monetary policy has huge time lags in policy effect ranging upto 1.5 years which makes this policy a slower one as compared to the fiscal policy. The slower impact is also because the direct effect is not there. It is through the path of change in money supply.
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