Journal Article

Reflections on the strategy of monetary policy


Abstract: The President of the Richmond Fed argues that: [1] price stability ought to be the overriding goal of monetary policy; [2] procedures for controlling the money supply need to be improved; and [3] monetary policy must be prepared to respond promptly to inflationary pressures.

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Provider: Federal Reserve Bank of Richmond

Part of Series: Economic Review

Publication Date: 1990

Volume: 76

Issue: Jul

Pages: 3-7