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Federal Reserve Bank of Cleveland
Economic Commentary
Monetary policy and the M2 target
Susan Black
William T. Gavin
Abstract

An analysis of the Federal Reserve's use of the M2 monetary aggregate as both a short-term and long-term policy guide, asserting that the FOMC's tentative target range for M2 growth in 1990 permits ample opportunity for the inflation rate to either accelerate or decline during the next few years.


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Susan Black & William T. Gavin, "Monetary policy and the M2 target" , Federal Reserve Bank of Cleveland, Economic Commentary, issue Dec, 1989.
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Keywords: Monetary policy ; Money supply
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