Federal Reserve Discount Rate Press Releases in the 1960s and 1970s through the Lens of Monetary Policy Communications

Mark Carlson, Daben Chen and Benjamin K. Johannsen
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Benjamin K. Johannsen: https://www.federalreserve.gov/econres/benjamin-k-johannsen.htm

No 2026-05-29-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This article examines press releases from the Board of Governors of the Federal Reserve System (Board) in the 1960s and 1970s related to changes in the discount rate through the lens of monetary policy communications. As argued by Yellen (2013), we start from the premise that communications have a "distinct and special role in monetary policymaking."

Date: 2026-05-29
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:103334

DOI: 10.17016/2380-7172.4053

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