Working Paper
Determinants of the Federal funds rate: 1979 - 1982
Abstract: In the late 1970s the money stock was growing at a faster rate than desired, the rate of inflation was accelerating, and the dollar was steadily depreciating in the foreign exchange markets. In an attempt to reverse these developments the Federal Reserve on October 6, 1979 announced several actions, including a change in its operating procedures to place more emphasis on managing the growth of bank reserves in order to improve monetary control.
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Working Paper
Publication Date: 1988
Number: 88-07