Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
Navigating Constraints: The Evolution of Federal Reserve Monetary Policy, 1935-59
Carlson, Mark A.; Wheelock, David C. (2014-06-09)
The 1950s are often pointed to as a decade in which the Federal Reserve operated a particularly successful monetary policy. The present paper examines the evolution of Federal Reserve monetary policy from the mid-1930s through the 1950s in an effort to understand better the apparent success of policy in the 1950s. Whereas others have debated whether the Fed had a sophisticated understanding of how to implement policy, our focus is on how the constraints on the Fed changed over time. Roosevelt Administration gold policies and New Deal legislation limited the Fed's ability to conduct an ...
Finance and Economics Discussion Series , Paper 2014-44

Speech
A Return to Operating with Abundant Reserves
Logan, Lorie (2020-12-01)
Remarks before the Money Marketeers of New York University (delivered via videoconference).
Speech

Speech
A Brief History of the Fed Universe
Harker, Patrick T. (2019-04-17)
In remarks to the Greater Vineland Chamber of Commerce in New Jersey, Philadelphia Fed President Patrick T. Harker kept his outlook in line with that of recent weeks. ?I continue to be in wait-and-see mode, and my outlook for rates remains, at most, one hike for 2019 and one for 2020,? he said.
Speech , Paper 164

Discussion Paper
Central Banks, Global Shocks, and Local Crises: Lessons from the Atlanta Fed's Response to the 1920–21 Recession
Roberds, William; White, Eugene (2020-12-18)
During late 1920, the president (then called "governor") and board of directors of the Federal Reserve Bank of Atlanta were confronted with an unexpected, devastating collapse in the price of a commodity whose global production was concentrated in their district—cotton. Their judgment was that the fall in cotton prices was temporary and that its effects could be lessened with generous credit policies that did not conflict with the Federal Reserve Act. Other officials within the Federal Reserve System did not agree with this judgment, however, leading to a contentious policy debate and an ...
Policy Hub , Paper 2020-15

Journal Article
Policy Update: Independence, If You Can Keep It
Taylor, Sam Louis (2024-08-13)
Historically, Congress has tended to take an acute interest in examining the structure of the Federal Reserve whenever there is economic turmoil. The economic swing during the COVID-19 pandemic and the current period of elevated inflation are no different. In response, lawmakers and policy influencers have voiced concerns about the Fed's ability to promote an equitable economic recovery as well as its ability to manage inflation. These proposals have spanned the political spectrum, including expanding the Fed's monetary policy mandate into new areas, bringing monetary policy decision-making ...
Econ Focus , Volume 24 , Issue 3Q , Pages 13

Working Paper
The Federal Reserve's Portfolio and its Effect on Interest Rates
Klee, Elizabeth C.; Ihrig, Jane E.; Huther, Jeff W. (2017-07)
We explore the historical composition of the Federal Reserve's Treasury portfolio and its effect on Treasury yields. Using data from 1985 to 2016, we show that the divergence of the composition of the Federal Reserve's portfolio from overall Treasury securities outstanding is associated with a statistically significant effect on interest rates. In aggregate, when the Federal Reserve's portfolio has shorter maturity than overall Treasury debt outstanding, measures of the term premium are higher at all horizons; likewise, when the Federal Reserve's portfolio has longer maturity, term premiums ...
Finance and Economics Discussion Series , Paper 2017-075

Journal Article
Implementing Monetary Policy in a Changing Federal Funds Market
Lester, Benjamin (2019-04)
As the Fed normalizes its balance sheet, it helps to understand how the federal funds market used to operate, how it changed in the wake of the crisis, and what comes next.
Economic Insights , Volume 4 , Issue 2 , Pages 15-20

Working Paper
Let's Close the Gap: Revising Teaching Materials to Reflect How the Federal Reserve Implements Monetary Policy
Wolla, Scott A.; Ihrig, Jane E. (2020-10-23)
The topic of the Federal Reserve’s (the Fed’s) implementation of monetary policy has a significant presence in economics textbooks as well as standards and guidelines for economics instruction. This presence likely reflects the fact that it is the implementation framework that helps ensure that the Fed’s desired level of its policy interest rate is transmitted to financial markets, which helps it steer the economy toward the Congressional dual mandate of maximum employment and price stability. Over the past decade or so, the Fed has purposefully shifted the way it implements monetary ...
Finance and Economics Discussion Series , Paper 2020-092

show more (2)

show more (64)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords