Federal Reserves Second Monetary Policy Report for 1993 Hearing Before the Co
Federal Reserves Second Monetary Policy Report for 1993 Hearing Before the Co
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That stance has been quite accommodative, especially judging by the level of real short-term interest rates in the context of, on average, moderate economic growth. Short-term real interest rates have been in the neighborhood of zero over the last three quarters. In maintaining this accommodative stance, we have been persuaded by the evidence of persistent slack in labor and product markets, increasing inter- national competitiveness, and the decided absence of excessive credit and money ex- fi...ansion. The forces that engendered past inflationary episodes appear to have been acking to date. Yet some of the readings on inflation earlier this year were disturbing. It ap- peared that prices might be accelerating despite product market slack and an unem- ployment rate noticeably above estimates of the so-called "natural" rate of unem- ployment — that is, the rate at which price pressures remain roughly constant. In the past, the existing degree of slack in the economy had been consistent with continu- ing disinflation.
What to read after Federal Reserves Second Monetary Policy Report for 1993 Hearing Before the Co?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
That stance has been quite accommodative, especially judging by the level of real short-term interest rates in the context of, on average, moderate economic growth. Short-term real interest rates have been in the neighborhood of zero over the last three quarters. In maintaining this accommodative stance, we have been persuaded by the evidence of persistent slack in labor and product markets, increasing inter- national competitiveness, and the decided absence of excessive credit and money ex- fi...ansion. The forces that engendered past inflationary episodes appear to have been acking to date. Yet some of the readings on inflation earlier this year were disturbing. It ap- peared that prices might be accelerating despite product market slack and an unem- ployment rate noticeably above estimates of the so-called "natural" rate of unem- ployment — that is, the rate at which price pressures remain roughly constant. In the past, the existing degree of slack in the economy had been consistent with continu- ing disinflation.
What to read after Federal Reserves Second Monetary Policy Report for 1993 Hearing Before the Co?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
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