After the Accord A History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979
Book contents
- After the Accord
- Studies in Macroeconomic History
- After the Accord
- Copyright page
- Dedication
- Contents
- Charts
- Tables
- Boxes
- Foreword
- Acknowledgments
- Treasury Officials
- Federal Reserve Officials
- The Many Varieties of Dealer
- 1 Introduction
- Part I The System and the Market in the 1940s
- Part II The Accord and Its Aftermath
- Part III The New Regime
- Part IV Summer 1958 and Its Consequences
- Part V The End of Bills Preferably
- Part VI The 1960s
- Part VII Updating Market Infrastructures
- Part VIII The 1970s
- Contents
- 28 Treasury Debt Management in the 1970s
- 29 Monetary Policy in the 1970s
- 30 Open Market Operations in the 1970s
- Part IX Infrastructure in the 1970s
- References
- Index
29 - Monetary Policy in the 1970s
from Part VIII - The 1970s
Published online by Cambridge University Press: 14 January 2021
Book contents
- After the Accord
- Studies in Macroeconomic History
- After the Accord
- Copyright page
- Dedication
- Contents
- Charts
- Tables
- Boxes
- Foreword
- Acknowledgments
- Treasury Officials
- Federal Reserve Officials
- The Many Varieties of Dealer
- 1 Introduction
- Part I The System and the Market in the 1940s
- Part II The Accord and Its Aftermath
- Part III The New Regime
- Part IV Summer 1958 and Its Consequences
- Part V The End of Bills Preferably
- Part VI The 1960s
- Part VII Updating Market Infrastructures
- Part VIII The 1970s
- Contents
- 28 Treasury Debt Management in the 1970s
- 29 Monetary Policy in the 1970s
- 30 Open Market Operations in the 1970s
- Part IX Infrastructure in the 1970s
- References
- Index
Summary
Describes the continuing efforts to offset transient fluctuations in autonomous factors. Examines in particular the decision of the Treasury to keep virtually all of its cash balances at Federal Reserve Banks (in order to benefit indirectly from historically high short-term interest rates) and the consequences of that decision for open market operations.
Keywords
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- After the AccordA History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979, pp. 458 - 474Publisher: Cambridge University PressPrint publication year: 2021