Journal Article
Determinants of the federal funds rate: 1979-1982
Abstract: On October 6, 1979 the Federal Reserve, in an effort to improve monetary control, changed its operating procedures to give greater emphasis to managing the growth of bank reserves. Some movements in the federal funds rate under the new procedures were an automatic response to deviations of the money stock from its short-run target. Most, however, resulted from judgmental actions by the Federal Reserve.
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Economic Review
Publication Date: 1989
Volume: 75
Issue: Jan
Pages: 3-19