Strategies for Monetary Policy (Hardcover) (ISBN-13: 9780817923747)

As the Federal Reserve System conducts its latest review of the strategies, tools, and communication practices it deploys to pursue its dual-mandate goals of maximum employment and price stability, Strategies for Monetary Policy--drawn from the 2019 Monetary Policy Conference at the Hoover Institution--emerges as an especially timely volume. The book's expert contributors examine key policy issues, offering their perspectives on US monetary policy tools and instruments and the interaction between Fed policies and financial markets. The contributors review central bank inflation-targeting policies, how various monetary strategies actually work in practice, and the use of nominal GDP targeting as a way to get the credit market to work well and fix the friction in that market. In addition, they discuss the effects of the various rules that the Fed considers in setting policy, how the Fed's excessive fine-tuning of the economy and financial markets has added financial market volatility and harmed economic performance, and the key issues that impact achievement of the Fed's 2 percent inflation objective. The volume concludes by exploring potential options for enhancing our policy approach.

Author: John H. Cochrane
ISBN-10: 0817923748
ISBN-13: 9780817923747
Publisher: Hoover Institution Press
Language: English
Published: 05/15/2020
Pages: 416
Format: Hardcover
Weight: 1.80lbs
Size: 8.60h x 5.60w x 1.50d