(Bloomberg) -- For all the talk about when Federal Reserve policy makers are going to raise interest rates, they haven’t quite figured out how to do it.

The central bank has had trouble controlling near-term borrowing costs since the 2008 financial crisis and has been experimenting with ways to do so. While its main new tool has enabled the Fed to exert more influence over money-market rates in the past year, strategists from Barclays to Goldman Sachs Group say the program is too small to prevent rates from falling when officials want them to climb.

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