The Evolution of U.S. Monetary Policy

Posted: 8 Jan 2018 Last revised: 7 Apr 2018

See all articles by Robert L. Hetzel

Robert L. Hetzel

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 2018-01-03

Abstract

Since the establishment of the Federal Reserve System in 1913, policymakers have always pursued the goal of economic stability. At the same time, their understanding of the world and of the role of monetary policy has changed dramatically. This evolution of views provides a laboratory for understanding what kinds of monetary policy stabilize the economy and what kinds destabilize it.

Keywords: federal reserve, monetary policy

JEL Classification: E52, E58

Suggested Citation

Hetzel, Robert L., The Evolution of U.S. Monetary Policy (2018-01-03). FRB Richmond Working Paper No. 18-1, Available at SSRN: https://ssrn.com/abstract=3097392

Robert L. Hetzel (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

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