What does the change in the FOMC's statement of objectives mean?

Daniel Thornton

Economic Synopses, 2011, No 1

Abstract: In contrast, most economists believe that central banks have little or no ability to directly affect employment. The effect of monetary policy actions on employment is indirect and stems from central banks? ability to affect output growth in the short run and achieve price stability in the long run.

Keywords: Monetary policy; Employment; Federal Open Market Committee (search for similar items in EconPapers)
Date: 2011
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