Journal Article

Monetary policy with humility

Abstract: When the economy slows, monetary policymakers face pressure to deviate from their longer-term goals to address short-term problems. This Commentary argues that the Fed must stay focused on the long term?maintaining the stable purchasing power of the dollar. The Commentary is adapted from a speech delivered by Sandra Pianalto, first vice president of the Federal Reserve Bank of Cleveland, to the Association for Corporate Growth in March 2001.

Keywords: Monetary policy; economic conditions - United States;

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2001

Issue: May

Order Number: 1