Operating Procedures for Conducting Monetary Policy
نویسنده
چکیده
‘a-jr ‘it! V V ITHIN the Federal Reserve System, the body that determines the nation’s monetary policy is the Federal Open Market Committee (FOMC). The FOMC meets several times each year, specifying targets for the federal funds rate and money growth over the period until the next scheduled meeting.’ Twice each year, in February and July, the FOMC also announces its annual objectives for growth of the monetary aggregates. The Committee began setting targets for the growth rates of the monetary aggregates in 1970, because of a growing recognition of the effects of money growth on total spending and inflation. The FOMC also gives some weight to the short-run stability of interest rates, expressed as ranges for the federal funds rate.
منابع مشابه
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