Today is the 30th anniversary of the secret Saturday night meeting of the FOMC that shifted the Fed's focus to bank reserves rather than an explicit target for the fed funds rate.
Students of monetary policy and the Fed may enjoy reading about this famous episode in which the Fed took a hard line stance against inflation--and won.
Short version
Long version
Students of monetary policy and the Fed may enjoy reading about this famous episode in which the Fed took a hard line stance against inflation--and won.
Short version
Long version
Leave a comment