Briefing
Does money still matter for monetary policy?
Abstract: Economists agree that inflation is a monetary phenomenon, but since 1982, monetary policymakers have demoted measures of the money supply from prime targets to key indicators to incidental byproducts. With excess bank reserves at all-time highs, however, measures of money may have a renewed purpose as red flags for inflation.
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https://fraser.stlouisfed.org/title/economic-brief-6034/money-still-matter-monetary-policy-583912
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2013
Issue: May
Pages: 1-6