Journal Article

Great expectations: the role of beliefs in economics and monetary policy

Abstract: Whether one looks at consumers or businesses, expectations - people's beliefs - are driving forces of every economy. The economic outcomes one can expect from public policy are affected by the way beliefs are formed and how they vary over time. In \\"Great Expectations: The Role of Beliefs in Economics and Monetary Policy,\\" President Anthony Santomero presents his perspective on the important role beliefs play in economic decisions and policymaking. He also offers some observations on the important role the policymaker's credibility plays in determining the outcome of any monetary policy action.

Keywords: Monetary policy; Economic policy;

Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Business Review

Publication Date: 2004

Issue: Q2

Pages: 1-6