Determinants of the Federal funds rate: 1979 - 1982

Timothy Q. Cook

No 88-07, Working Paper from Federal Reserve Bank of Richmond

Abstract: In the late 1970s the money stock was growing at a faster rate than desired, the rate of inflation was accelerating, and the dollar was steadily depreciating in the foreign exchange markets. In an attempt to reverse these developments the Federal Reserve on October 6, 1979 announced several actions, including a change in its operating procedures to place more emphasis on managing the growth of bank reserves in order to improve monetary control.

Keywords: Federal; funds; rate (search for similar items in EconPapers)
Date: 1988
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