When is a rate hike not tighter policy?

David Altig

Economic Commentary, 2004, issue Aug

Abstract: Now that the Fed has started to bump up the federal funds rate, the explanation often heard for it is that the Fed is ?tightening? monetary policy to keep economic growth in check. But sometimes the Fed needs to move rates just to keep policy from changing.

Keywords: Federal funds rate; Monetary policy - United States (search for similar items in EconPapers)
Date: 2004
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