In making monetary policy, the Federal Open Market Committee (FOMC) relies in part on the Beige Book, a report on regional economic conditions released publicly about two weeks before each FOMC meeting. The Beige Book summarizes economic conditions in each of the twelve Federal Reserve districts...

Monetary policymakers and central banks universally recognize that, in the long run, inflation is strictly determined by monetary policy. However, they disagree sharply about the role of monetary aggregates in the conduct of monetary policy. ; These differences in views are reflected in the way...

A discussion of the institutional aspects of U.S. exchange-market intervention, from the decision to intervene to investment of the proceeds, focusing on the interactions between the U.S. Treasury and the Federal Reserve System.

In a speech given at the Federal Reserve Bank of Chicago’s conference, "Whither the Community Bank?" Federal Reserve Bank of Kansas City President Thomas Hoenig gave his perspective on the role community banks play in key sectors of the economy and in the Federal Reserve’s mission. Mr....

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An abstract for this article is not available.

The Federal Reserve System is faced with a myriad of objectives in the area of monetary policy: some people believe the Fed should use monetary policy to keep interest rates low, other think the primary goal should be to increase business activity and decrease unemployment, and still others feel...

An abstract for this article is not available.

An abstract for this article is not available.