(Solution) - What is the role of the long term interest rate in -(2025 Original AI-Free Solution)

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What is the role of the long-term interest rate in the monetary policy transmission process?
Perhaps Ben Bernanke didn?t learn in school that long-term interest rates are set by the market but he is about to learn this lesson. Long-term interest rates cannot be manipulated lower by the central bank for a great length of time.