Setting the discount rate

Edward J. Stevens

Economic Commentary, 1989, issue Jul

Abstract: An analysis of the rationale for using the discount rate as an independent monetary policy tool (rather than simply moving the rate in alignment with market rates) so that the Federal Reserve can improve the reliability of short-term policy information and prevent market activity based on inaccurate assumptions about policy intentions.

Keywords: Discount; Monetary policy (search for similar items in EconPapers)
Date: 1989
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