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The Evolution of U.S. Monetary Policy

Robert L. Hetzel
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Robert L. Hetzel: Federal Reserve Bank of Richmond

No 18-1, Working Paper from Federal Reserve Bank of Richmond

Abstract: Since the establishment of the Federal Reserve System in 1913, policymakers have always pursued the goal of economic stability. At the same time, their understanding of the world and of the role of monetary policy has changed dramatically. This evolution of views provides a laboratory for understanding what kinds of monetary policy stabilize the economy and what kinds destabilize it.

Keywords: federal reserve; monetary policy (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe, nep-mac, nep-mon and nep-pay
Date: 2018-01-03
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