The Fed and Its Shadow: A Historical View
Abstract: Central bank policies have always incorporated both a discretionary or active component and a passive component. Successful central banking has required a coordination of the two components. After a period of apparent dormancy, the passive component of monetary policy has emerged from the shadows and become relevant for Federal Reserve policy today.
File(s): File format is application/pdf https://www.atlantafed.org/-/media/documents/research/publications/policy-hub/2023/10/02/06--the-fed-and-its-shadow--historical-view.pdf
Provider: Federal Reserve Bank of Atlanta
Part of Series: Policy Hub
Publication Date: 2023-10-02