Discussion Paper

Standard Elements of a Monetary Policy Implementation Framework


Abstract: In the minutes of the July 2015 Federal Open Market Committee (FOMC) meeting, the chair indicated that Federal Reserve staff would undertake an extended effort to evaluate potential long-run monetary policy implementation frameworks. But what is a central bank?s monetary policy implementation framework? In a series of four posts, we provide an overview of the key elements that typically constitute such a framework.

Keywords: monetary policy implementation;

JEL Classification: E5;

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Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Liberty Street Economics

Publication Date: 2016-02-01

Number: 20160201