Search Results
Discussion Paper
Federal Reserve Discount Rate Press Releases in the 1960s and 1970s through the Lens of Monetary Policy Communications
This article examines press releases from the Board of Governors of the Federal Reserve System (Board) in the 1960s and 1970s related to changes in the discount rate through the lens of monetary policy communications. As argued by Yellen (2013), we start from the premise that communications have a "distinct and special role in monetary policymaking."