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Topic: Monetary policy of the USA


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In the News (Sun 21 Jul 19)

  
  Inflation in Sweden, EU-15 and the USA | Financial Development | Economy | Facts and figures | ekonomifakta.se
Inflation in Sweden, EU-15 and the USA
A very expansive economic policy financed by large budget deficits, generous wage increases, combined with repeated devaluations of the Krona, were the major causes of the substantial increase in inflation in Sweden.
The change in inflation policy and increasingly harder international price competition have also contributed to the historically low level of inflation in both Sweden and in other countries since the beginning of the 1990s.
www.ekonomifakta.se /en/Facts_and_figures/GDP/Financial_Development/Inflation_in_Sweden_EU-15_and_the_USA   (313 words)

  
 Spartanburg SC | GoUpstate.com | Spartanburg Herald-Journal   (Site not responding. Last check: 2007-10-16)
Monetary policy is the government or central bank process of managing money supply to achieve specific goals—such as constraining inflation, maintaining an exchange rate, achieving full employment or economic growth.
Monetary policy rests on the relationship between the rates of interest in an economy, that is the price at which money can be borrowed, and the total supply of money.
Further monetary policies are described as accommodative if the interest set by the central monetary authority is intended to spur economic growth, neutral if it is intended to neither spur growth or combat inflation, or tight if intended to reduce inflation or "cool" an economy.
www.goupstate.com /apps/pbcs.dll/section?category=NEWS&template=wiki&text=monetary_policy   (3702 words)

  
 FRBSF: Economic Letter - U.S. Monetary Policy: An Introduction(01/01/1999)
The object of monetary policy is to influence the performance of the economy, as reflected in such factors as inflation, economic output, and employment.
Monetary policy is conducted by the Federal Reserve System, the nation's central bank, and it influences demand mainly by raising and lowering short-term interest rates.
Output, employment, and inflation are influenced not only by monetary policy actions, but also by such factors as our government's taxing and spending policies, the availability and price of key natural resources (such as oil), economic developments abroad, financial conditions at home and abroad, and the introduction of new technologies.
www.frbsf.org /econrsrch/wklyltr/wklyltr99/el99-01.html   (5952 words)

  
 Speech by Mr. Sauli Niinistö, Minister of Finance, Finland on behalf of the Nordic and Baltic countries at the ...
On this background, further tightening of monetary policy in the USA appears to be called for.
An important challenge will be to manage monetary policy in a way that minimises risks of excessive reactions in capital markets, thereby promoting a soft landing of the US economy.
Fiscal policies must aim at sustainable public finances, and a clarification of fiscal relations between the central government and the regions is needed.
www.imf.org /external/spring/2000/imfc/fin.htm   (2078 words)

  
 The False Dilemma of Dollarization - Global Policy Forum - Nations and States   (Site not responding. Last check: 2007-10-16)
And while it is not possible to compare unilateral dollarization with the creation of an optimum monetary area, as in the case of the Euro, one has to recognise the influence of the latter in encouraging some Latin American countries to give up their national currency.
Having said that, even when it would seem necessary for Latin American countries to sacrifice their national monetary policies, by means of spontaneous or official dollarization, it is too early to say what the on-going changes are going to produce in terms of the exchange and monetary system which predominates internationally.
It is a policy which is extremely limited in scope, either because of the size of the foreign debt, the extent of planned budgetary spending, shortcomings in the tax system itself, lack of efficiency in the State itself or the inconsistencies brought about by the conditions laid down by the International Monetary Fund.
www.globalpolicy.org /nations/dollar/0404ecuador.htm   (5841 words)

  
 FRBSF: Economic Letter - The Goals of U.S. Monetary Policy (01/29/1999)
The Federal Reserve has seen its legislative mandate for monetary policy change several times since its founding in 1913, when macroeconomic policy as such was not clearly understood.
During this early period, most of the actions of monetary policy that affected the macro economy were determined by the U.S. government's adherence to the gold standard.
The transparency of goals refers to the extent to which the objectives of monetary policy are clearly defined and can be easily and obviously understood by the public.
www.frbsf.org /econrsrch/wklyltr/wklyltr99/el99-04.html   (1779 words)

  
 The Myth of Shock-Free Monetary Policy - Mises Institute
This is all part of a new effort to conduct monetary policy in the absence of "shocks." This is the newest vision of monetary utopia that will permit the Fed to expand money and credit, be the lender of last resort, and maintain the world dollar standard, without having to face negative consequences.
The goal of shockless monetary policy also accounts for why the fed funds rate will be raised only gradually. According to various experts, the Fed should aim at a Fed Funds rate target of around 4% to 5%, because within this range the Fed Funds rate is regarded as neutral–neither stimulating nor restraining the economy.
The suggestion that it is possible to avoid the outcome of previous loose monetary policies by means of transparent policies is erroneous.
www.mises.org /fullstory.asp?control=1561   (2476 words)

  
 GUIDANCE ON INTERPRETING FINANCIAL INSTITUTION POLICIES IN RELATION TO RECORDKEEPING REQUIREMENTS UNDER 31 C.F.R. ...
Many depository institutions (banks, thrifts, credit unions, etc) have implemented a policy requiring customers who are deposit accountholders and who want to purchase monetary instruments between $3,000 and $10,000 with currency, to first deposit the currency into their deposit accounts.
FinCEN anticipates that, in selling monetary instruments to deposit account holders, a financial institution will already maintain most of the information required by §103.29 in the normal course of its business, and therefore the requirement to fully comply with the regulation should not be overly burdensome.
Multiple purchases of the same or different types of monetary instruments on the same business day totaling between $3,000 and $10,000 must be treated as one purchase, if the financial institution has knowledge that the purchases have occurred.
www.fincen.gov /monetaryinstrumentsales3a.html   (598 words)

  
 Economist's View: Using Monetary Aggregates to Overcome Model and Data Uncertainty
To make monetary policy as robust as possible against model uncertainty, he advocates using a variety of long-run and short-run models to guide policy and makes particular note of short-run New Keynesian models and more traditional long-run models as part of the analysis.
Because of this, he promotes the use of monetary aggregates as a means of coping with both model and data uncertainty and using the deviation of the growth rate of output from potential rather than the level of the output gap.
If the committee members agree on a decision that is acceptable for all of the different prevailing assumptions of the transmission mechanism, this could prevent monetary policy decisions which are optimal only in one specific model...
economistsview.typepad.com /economistsview/2005/10/using_monetary_.html   (1681 words)

  
 Monetary policy of the USA - Wikipedia, the free encyclopedia
The Federal Reserve implements monetary policy by manipulating the money supply.
In the free market interest rates will be set by saver's time preference.
Monetary policy means that the interest rates no longer represent consumer time preferences and so investments are made by businessmen with the wrong signals.
en.wikipedia.org /wiki/Monetary_policy_of_the_USA   (488 words)

  
 KryssTal : Why The USA?
The USA government blames hatred of democracy and envy at the American way of life for this resentment.
The record of the USA voting patterns is generally under reported in the Western media.
This is a conservative estimation of the numbers of victims of USA foreign policy (direct and indirect).
www.krysstal.com /democracy_whyusa.html   (3836 words)

  
 FRB: Federal Open Market Committee   (Site not responding. Last check: 2007-10-16)
The term "monetary policy" refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals.
At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.
For more detail on the FOMC and monetary policy, see section 2 of the brochure on the structure of the Federal Reserve System and chapter 2 of Purposes and Functions of the Federal Reserve System.
www.federalreserve.gov /fomc   (600 words)

  
 The Prize in Economics 1975 - Press Release
Of primary importance here is his re-fashioning of the theory of consumption based on the hypothesis that "the permanent income" and not year-to-year income is the determining factor when assessing total consumption outlay.
The conclusion he draws for economic policy from these findings has been the subject of lively debate, and, to put it briefly, is that monetary policy should be simplified and that its goal should be to ensure a long-range stable growth rate of the supply of money.
Most outstanding is, perhaps, his original and energetically pursued study of the strategic role played by the policy of the Federal Reserve System in sparking off the 1929 crisis, and in deepening and prolonging the depression that followed.
nobelprize.org /nobel_prizes/economics/laureates/1976/press.html   (911 words)

  
 [No title]
The pursuit of deflationary policies, and the constraints imposed by both the EMS guidelines and the convergence criteria, largely explains the persistence of unemployment in the European Union (Lombard, 2000 p.
The internal risk, that is, the political difficulty in a democratic system of imposing a one-size fits-all monetary policy on such different economies, all of which are at different points in the economic cycle, is plain enough.
And until these two problems are solved properly and fully, the macro monetary and fiscal policies used today are condemned to be a failure, a scientific illusion, during a losing battle with the impossibility theorem in practice (“Part I: The European Monetary and Economic Union, in its Present form, exposed to insurmountable difficulties” 2001 p.75).
www.snhu.edu /IncompleteMonetarySystems.doc   (4021 words)

  
 UTLink: Canadian Foreign Policy and the Seven Power Summits...Timothy Heeney
Thatcher was also in the midst of a war in the South Atlantic which preoccupied her throughout the summit.President Reagan's monetary policy, particularly its very high interest rates, was the focus of much of the debate, but the Americans refused to budge.
In an effort to avert discussion from its monetary policy the USA tried to shift the talks to the issue of East-West economic relations.
According to Canadian media reports, Trudeau "led the battle'' against US monetary policy, but this was not confirmed.(79) What did get some international press coverage was Trudeau's attempt to mediate the dispute on East- West economic relations.
www.g7.utoronto.ca /scholar/heeney1988/heeng.htm   (818 words)

  
 Pushing for a World Currency
In the monetary wars of the 20th century, one side has consisted of the world planners and their allies in central banking.
In this scheme, central banks were to adopt monetary policies that would keep their currencies within prescribed limits or "bands." But when France and Italy, for example, had looser money than Germany, the system proved untenable.
ITO was yet another Keynesian monster, endorsing fiscal planning, and enshrining the ideal of full-employment monetary policies (which means inflation) and global planning for all trade.
www.getusout.org /artman/publish/article_76.shtml   (3188 words)

  
 Destination USA- Social and Economic Policy - Global Policy Forum
Canada's economic policies are kooky and investments in Latin America, the Middle East, Russia, Southeast Asia and Africa are about as safe as running drunk blindfolded across the "I-5" freeway at rush hour.
When foreign economic policies improve, and the foreign attractiveness to capital increases as a result, the first impact is a weakening of the U.S. terms-of-trade (the real exchange rate) followed much later by a fall in the U.S. capital surplus, i.e., trade deficit.
Back in the late 1960s and '70s, currency depreciation was associated with domestic monetary creation and a horrendous bout of global inflation.
www.globalpolicy.org /socecon/crisis/tradedeficit/2005/0103laffer.htm   (1260 words)

  
 prosperityinterview
We were a monetary laboratory from the start, and tried everything; whereas the UK was quickly put on the false path of private bank credit money with the formation of the Bank of England in 1694.
The monetary system is a source of so much power to those who control it that the area is purposely confused.
With it came the Austrian School of Economics with their monetary obfuscations and wearing the "freedom" mantra on their cuffs, while the real effects of their ideas were to promote plutocracy.
www.monetary.org /prosperityinterview.html   (2501 words)

  
 Pictet ¦ Finanzanalyse: Strategie   (Site not responding. Last check: 2007-10-16)
After the second half of 2003 when economic growth proved surprisingly robust virtually worldwide thanks to highly expansionary macroeconomic policy mixes, business activity appears to have been stuttering a little in early 2004.
Anaemic job creation in the USA this winter sits rather uneasily with readings on other economic barometers which have been quite encouraging.
Against this background and with money-market rates so low in the USA, monetary policy will probably be made more restrictive some time later this year.
www.pictet.com /de/home/finance/research/strategy/investment3.html   (462 words)

  
 About the USA > Sports
About the USA is a digital collection of background resources on American society, culture, and political processes.
About the USA is maintained by the Information Resource Centers/U.S. Diplomatic Mission to Germany.
In addition, the U.S. Embassy supports a network of Education USA advising centers in Germany.
usa.usembassy.de   (238 words)

  
 Monetary and Fiscal Policy - "Krakow, Poland"   (Site not responding. Last check: 2007-10-16)
It has two main tools for achieving these objectives: fiscal policy, through which it determines the appropriate level of taxes and spending; and monetary policy, through which it manages the supply of money.
By the late 1990s, the nation was experiencing a gratifying combination of strong growth, low unemployment, and slow inflation.
Monetary policy is the province of the Federal Reserve System, an independent U.S. government agency.
krakow.usconsulate.gov /krakow/fiscal.html   (379 words)

  
 Taylor, John B.: Monetary Policy Rules
This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best.
A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange.
Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables.
www.press.uchicago.edu /cgi-bin/hfs.cgi/00/13852.ctl   (229 words)

  
 Greenspan and rise of the central banker | csmonitor.com
For all his reputation as a monetary magician, the exit of Alan Greenspan Tuesday from the global financial stage calls attention to a deceptively simple fact: He is replaceable.
Equally important, the Greenspan years were part of a broader trend toward improved monetary policy that goes beyond the man himself.
The Fed was able to ease its policy, for example, to calm world markets after the combination of a Russian debt default and a giant hedge-fund collapse in 1998.
www.csmonitor.com /2006/0131/p01s04-usec.html   (1523 words)

  
 Piecewise Linear Feedback Rules in a Non Linear Model of the Phillips Curve: Evidence from the US and the UK
Significant differences in the transmission mechanism of monetary policy, between the USA and the UK, show up both in the form of the optimal feedback rule and in the distribution of outcomes when there is a zero floor to nominal interest rates and non-linearities in the Phillips curve.
"Monetary Policy When Interest Rates Are Bounded At Zero," The Review of Economics and Statistics, MIT Press, vol.
"Monetary policy when interest rates are bounded at zero," Working Papers in Applied Economic Theory 94-06, Federal Reserve Bank of San Francisco.
ideas.repec.org /p/cam/camdae/0019.html   (723 words)

  
 The Miner's Manual :: A resource for the mining professional
Q: Being aware of the fact that economic policies of your country have consequences for the whole world, I am directing these queries to you from a small island in the Caribbean, which is Curacao, the Netherlands Antilles.
All was well as long as the planet soaked up all the dollars that the USA exported into the total international monetary system.
They successfully sold the idea of the Dollar Reserve Policy that functioned by storing all these dollars in US Treasury instruments primarily as reserves of the various countries, even those today regarded as enemies of the state by the US.
www.minersmanual.com /news/JS_RestructureMonetarySystem.php   (1876 words)

  
 Index of Economic Freedom 2006 - United States
Subsequent moves to deregulate, cut tax rates, follow stable monetary policy, and protect intellectual property rights have engendered strong growth.
The United States' trade policy score is 0.5 point better this year, and its fiscal burden of government score is 0.1 point better.
Based on the lower tariff rate, as well as a revision of the trade factor methodology, the United States' trade policy score is 0.5 point better this year.
www.heritage.org /research/features/index/country.cfm?id=Unitedstates   (1480 words)

  
 Resource: Economics U$A
This program explores how the government's tax and spending policies are used to reduce the severity of business cycle fluctuations.
The rising power of the Federal Reserve Board and the pros and cons of increasing reliance on monetary policy are examined.
The causes of income inequality and the role of social welfare policy are examined.
www.learner.org /resources/series79.html   (575 words)

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