This look at interest rates and inflation in the U.S. over the past 50 years helps to clarify ideas about the Fed’s monetary policy and its own credibility. The authors examine three periods corresponding to three different policies: when the Fed operated without credibility, when it was...

Federal Open Market Committee (FOMC) projections are important because they provide information for evaluating current monetary policy intentions and because they indicate what FOMC members think will be the likely consequence of their policies. Knowing the Fed’s objectives, their forecasts,...

More young people, poor people and minorities are buying homes these days, but not because of tax deductions or government affordable-housing programs.

To figure out what a central bank should look like, consider that most have three features in common: independence, transparency and a goal of low and stable inflation.

Because food prices are no longer volatile, it makes little sense to exclude them anymore from calculations to determine core inflation.

We all know the size of the Fed chairman's briefcase as a policy indicator is a joke. But would knowing what's inside the briefcase be of real help?