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What is the difference between fiscal and monetary policy?

April 26, 2017Business corporations Finance fiscal monetary policy

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What is the difference between fiscal and monetary policy?

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Fiscal policy is the government policy for example stimulus package or financial aid to the banks or tax cuts etc. Monetary policy is the federal reserve. Currently they have lowered interest rates and are engaged in quantitative easing. Monetary policy by the Federal reserve has the largest effect on the long term growth of the economy.