The rapid financialization of the world economy for the last twenty years led to frequent and widespreadeconomic crisis, and protracted recessions. The main problem experienced by the global economy and thespecific countries is not the crisis itself but the prolonged economic recession which is caused by theeconomic crisis. The criticism toward central banks and monetary policies surged because of theperpetuation of crisis, its impact on many countries and the ineffectiveness of the monetary policiesimplemented during the crisis. Therefore, it has been more and more difficult to implement propermonetary policies in the dilemmas of inflation, production and finance. Central Banks seems to beineffective managing the fluctuations and the crisis. Central banks try to take into account real andfinancial variables which are more flexible and effective as policy tools. Therefore, it can be argued that world economy might experience crisis in the future because policymakers are reluctant to take necessarymeasures. Based on the result of the article, we can contend that monetary policies will again beincompetent during the would-be crisis.