Economic Review

Jul/Aug, 1990

Reflections on the Strategy of Monetary Policy

Robert P. Black

The President of the Richmond Fed argues that: [1] price stability ought to be the overriding goal of monetary policy; [2] procedures for controlling the money supply need to be improved; and [3] monetary policy must be prepared to respond promptly to inflationary pressures.

Our Research Focus: Inflation and Monetary Policy

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