Professor Cecchetti said he thought policy makers had done enough using traditional fiscal and monetary tools.

The report said it might be wiser to use tax increases or other fiscal methods rather than such monetary tools as higher interest rates to slow Britain's economy.

It should be reassuring that Japan has all the financial resources and monetary tools it needs to keep its economy growing and spare everyone else pain.

It intends to bring actual inflation to their desired numbers by bringing about changes in interest rates, open market operations, and other monetary tools.

What does seem incomprehensible is the sole call for an interest rise, the division of the two monetary tools also continues to perplex.

With rates so low, the central bank appears to have few monetary tools at its disposal.

Virtually all economists would still use fiscal and monetary tools to offset Depression-magnitude swings in demand.

Schools of economic thought have come and gone, and with them have come changes in the Government's reliance on fiscal and monetary tools.

At the very least, economists contended, the apparent redundancy of fiscal and monetary tools had been lost.

The Fed is using the TAF as a trial of this type of monetary tool.