Journal Article
The Fed and Its Shadow: A Historical View
Abstract: Central bank policies have always incorporated both a discretionary or active component and a passive component. Successful central banking has required a coordination of the two components. After a period of apparent dormancy, the passive component of monetary policy has emerged from the shadows and become relevant for Federal Reserve policy today.
Keywords: central bank; monetary policy; active; passive; repo; reverse repo;
JEL Classification: E58; G23; N20;
https://doi.org/10.29338/ph2023-6
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Bibliographic Information
Provider: Federal Reserve Bank of Atlanta
Part of Series: Policy Hub
Publication Date: 2023-10-02
Volume: 2023
Issue: 6
Pages: 32