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Conference Paper
Monetary policy in a low-inflation environment: a conference sponsored by the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, St. Louis, and Minneapolis, and the Board of Governors of the Federal Reserve System, October 18-20, 1999
A diverse group of economists and policymakers gathered in Woodstock, Vermont, in October 1999 to discuss the conduct of monetary policy in a low-inflation environment. The conference was held at a time when many countries had successfully reduced their inflation rates to the low single digits, an outcome without recent historical precedent that raises important questions about the conduct of monetary policy.
Conference Paper
Conference summary
The conference papers and panel discussion explored a number of issues bearing on monetary policy design and operation in an environment of very low nominal interest rates.
Journal Article
Collective bargaining and disinflation
A discussion of wage behavior over the business cycle and of the effect of deferred wage increases, cost-of-living adjustments, and current settlements on labor union rates, using the auto industry as an example.
Journal Article
Monetary policy in the cold war era
An explanation of why, in the face of a booming economy, low unemployment, and scant inflation pressures, the Federal Reserve must continue its campaign to achieve price stability.
Journal Article
Issues in CRA reform
An analysis of the prevailing community-lending environment, including a history of the implementation of the Community Reinvestment Act, a discussion of related research studies, and a recommendation of important economic considerations as policymakers attempt to reform the process of enhancing credit flows to disadvantaged communities.
Journal Article
Inflation targets: the next step for monetary policy
An argument that adopting specific inflation targets as a way of achieving price stability would enhance the United States' economic performance.
Journal Article
Monetary policy: from there to here to where?
Drawing from his long experience participating in the policymaking process at the Federal Reserve, chief policy officer Mark Sniderman shares his views on how the Federal Reserve?s framework for conducting monetary policy has evolved over the past decade. He explains how changes in economic theory have helped shaped this new framework and how lessons learned from the Great Depression and Japan?s recent struggle with deflation have contributed. This Commentary is based on a speech delivered at the Global Interdependence Conference, Tokyo, Japan, on December 4, 2012.
Journal Article
Information dynamics and CRA strategy
A look at how the quantity and source of information flowing to lenders can affect their credit decisions, and an argument that lenders should take advantage of the CRA provisions that allow them to address their obligations through joint-lending programs and qualified investments.
Journal Article
Home mortgage lending by the numbers
A look at some of the issues associated with reports that minority applicants for home mortgage loans are far more likely than whites to be denied credit. The authors raise the concern that simple comparisons of denial rates are not sufficient for grasping the complexities surrounding community-oriented lending.
Journal Article
Prevailing wage laws, the Federal Reserve, and the Service Contract Act
A discussion of the labor-market consequences of the Service Contract Act on Federal Reserve System costs and operations as they pertain to group transportation services.