As Chairman of the Federal Reserve for the past 18 years, Alan Greenspan deserves praise for his stewardship of monetary policy. He has guided the Fed and monetary policy in a way that has led to low and stable inflation. But if Greenspan's record clearly deserves praise, he could have done more...

From newspaper accounts, one might think that the U.S. economy is on the verge of collapse. But the economy performed well in 2004, with real GDP growth of 3.9%, inflation at only 2.2%, unemployment down to 5.4%, and over two million jobs added to the payrolls (performance that is the envy of...

This paper analyzes the interaction of money and the price level with a business cycle that is fully real in origin, adopting a view which differs sharply from traditional theories that assign a significant causal influence to monetary movements. The theoretical analysis focuses on a banking...

President Plosser discusses why he thinks the economy is on firmer footing than it has been for the past several years. He also discusses why he believes it is appropriate to end asset purchases and why he supported the FOMC's decision in January to continue to reduce the pace of purchases....

President Plosser discusses why he thinks the economy is on firmer footing than it has been for the past several years. He also discusses why he believes it is appropriate to end asset purchases and why he supported the FOMC's decision in January to continue to reduce the pace of purchases.

2014 U.S. Monetary Policy Forum, Initiative on Global Markets, The University of Chicago, Booth School of Business, February 28, 2014, New York, NY President Charles I. Plosser discusses his views on the FOMC's forward guidance, which seeks to inform the public about the future path of monetary...