Does money still matter for monetary policy?

Renee Courtois Haltom

Richmond Fed Economic Brief, 2013, issue May, 6 pages

Abstract: Economists agree that inflation is a monetary phenomenon, but since 1982, monetary policymakers have demoted measures of the money supply from prime targets to key indicators to incidental byproducts. With excess bank reserves at all-time highs, however, measures of money may have a renewed purpose as red flags for inflation.

Date: 2013
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