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Chapter 18: Conduct of Monetary Policy:...
Synopsis
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The first section of the chapter discusses the important goals that central banks attempt to achieve through their conduct of monetary policy and regulatory duties. The general operating strategy employed by central banks to achieve these goals is presented in the second part of the chapter. The third section ties together the first two sections by examining the Fed's past policy procedures. This historical perspective provides important insights when it comes to assessing curent and future monetary policy actions. The chapter concludes with a brief discussion of the Taylor rule as a guide for setting the federal funds rate.
For a more detailed chapter review with additional exercises and self-tests, order the Student Study Guide, ISBN 0-321-19416-0.
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