Monetary policy with humility

Sandra Pianalto

Economic Commentary, 2001, issue May

Abstract: When the economy slows, monetary policymakers face pressure to deviate from their longer-term goals to address short-term problems. This Commentary argues that the Fed must stay focused on the long term?maintaining the stable purchasing power of the dollar. The Commentary is adapted from a speech delivered by Sandra Pianalto, first vice president of the Federal Reserve Bank of Cleveland, to the Association for Corporate Growth in March 2001.

Keywords: Monetary policy; economic conditions - United States (search for similar items in EconPapers)
Date: 2001
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