At the last meeting of this committee, we presented forecasts for the M 1 - Adjusted Monetary Base Multiplier in seasonally adjusted form for the first time. The seasonal adjustment was accomplished by utilizing the published seasonal factors for various components of the monety stock as...

This position paper is divided into three parts. In the first part an analysis is present indicating the extent to which various forces have affected the growth of M1 since last November. (At the time of this writing August data are not yet available. I expect that the analysis can be updated to...

During recent months the behavior of the various monetary aggregates in the United States has been the subject of almost continuous commentary. The most frequent conclusion is that the observed behavior has been dominated by a number ofunique events. First it was alleged that the behavior of M1...

"The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U.S. policymakers to implement policies necessary to maintain price stability. This paper describes how the Committee's policy views differed from those of most Federal Reserve...