Working Paper
The Origins, Structure, and Results of the Federal Reserve’s 2019–20 Review of Its Monetary Policy Framework
Abstract: In this paper, we describe the Federal Reserve’s 2019–20 review of its monetary policy framework. First, we discuss the historical background of and motivation for the review. We then summarize the structure of the 2019–20 review, which included Fed Listens events, a flagship research conference, a series of staff analyses, and related Federal Open Market Committee (FOMC) deliberations. Finally, we present the main outcomes of the review, with particular attention paid to changes to the FOMC’s Statement on Longer Run Goals and Monetary Policy Strategy.
https://doi.org/10.17016/FEDS.2025.065
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File(s): File format is application/pdf https://www.federalreserve.gov/econres/feds/files/2025065pap.pdf
Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: Finance and Economics Discussion Series
Publication Date: 2025-08-22
Number: 2025-065