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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Economic Quarterly

Winter 1993

Price Stability Under Long-Run Monetary Targeting

A simple model of the price level illustrates how Milton Friedman's k-percent monetary policy rule provides for price stability. His rule can, in particular, largely eliminate the problem of long-run price-level uncertainty emphasized by Irving Fisher.

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Lisa Davis (804) 697-8179

Economic Quarterly

Winter 1993

Price Stability Under Long-Run Monetary Targeting

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