Learning About Policy from Federal Reserve History
23 Pages Posted: 5 Feb 2010
Date Written: February 4, 2010
The paper summarizes some of the main findings about domestic monetary policy from my three volume history. It finds that the Federal Open Market Committee concentrates excessively on the very near-term and rarely discusses medium or long-term implications. Also it has never agreed on a model and does not try to get agreement. These and other problems and achievements are summarized.
Keywords: Federal Reserve, open market, monetary policy
JEL Classification: E31, E50, E52, E58
Suggested Citation: Suggested Citation