Changes in US Monetary Policy: Past and Prospective

Nicholas P. Sargen
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Nicholas P. Sargen: Fort Washington Investment Advisors

Chapter Chapter 7 in Investing in the Trump Era, 2018, pp 95-106 from Springer

Abstract: Abstract This chapter begins by reviewing the Fed’s greatest achievement over the past four decades—namely, reining in inflation and inflation expectations in the early 1980s under Paul Volcker’s leadership and continuing with Alan Greenspan. This set the stage for a steady decline in interest rates that fueled the economy and financial markets until 1999. As inflation declined, however, credit expansion proliferated and a series of asset bubbles ensued, which culminated in the 2008 Global Financial Crisis and Great Recession.

Keywords: Asset Bubbles; Monetary policyMonetary Policy; Residential Mortgage-backed Securities (RMBS); Non-accelerating Inflation Rate Of Unemployment (NAIRU); Federal Funds Rate (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-76045-2_7

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DOI: 10.1007/978-3-319-76045-2_7

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