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10 - Monetary Policy in 1954

from Part III - The New Regime

Published online by Cambridge University Press:  14 January 2021

Kenneth D. Garbade
Affiliation:
Federal Reserve Bank of New York
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Summary

Discusses the initial implementation of monetary policy under the operating regime adopted in 1953, including the use of free reserves as a policy guide and the communication of policy instructions from the Open Market Committee to the manager of the System Open Market Account.

Type
Chapter
Information
After the Accord
A History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979
, pp. 135 - 149
Publisher: Cambridge University Press
Print publication year: 2021

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