. These are to: ? Maintain a low inflation environment. ? Stabilize the real economy. ? Underpin the soundness of the … through the attainment of the first objective ? a low inflation environment. That is, the goals are not competing, but … inflation environment should be the FOMC?s main priority, a policymaker would have to take an extremely long view of policy. And …

70?s with low single digit unemployment and inflation rates and finished the decade with double-digit unemployment and … inflation rates. What happened? We had great expectations for monetary policy, expectations that went far beyond the ability of … monetary policy to achieve. Every slowdown in the economy was pursued with and expansion of money growth and when inflation …

guide to the future development of the purchasing power of their monies, i.e., some objectives regarding future inflation …, Australia, New Zealand, Sweden, and several other nations have standards as specified by their adoption of inflation targeting …

inordinately. This rapid growth of money has been the major cause of rapid and increasing inflation and reduction in the rate of … growth of money was long overdue in order for inflation to be moderated. But instead of a reasonable moderate monetary growth …

which would in time reduce the rate of price inflation in the economy. In actual fact M1B did increase at a 6.2 percent rate …

effort do not generate instant responses. Reductions of monetary growth do not instantly reduce inflation. All these policies …

significant rise in interest rates in recent days -- notwithstanding a stagnant economy, slowing inflation, and credit demands …

produced stagflation every-where. Now, hesitant and uncertain steps to slow inflation have imposed a mild recession and …