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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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We promote the safety and soundness of individual financial institutions and monitor their impact on the financial system as a whole, as well as ensure financial institutions are protecting consumers.
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We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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Working Papers

April 1974, No. 74-2

Alternative Optimal Open Market Strategies: A Classical Optimization Certainty Equivalence Approach

Joseph M. Crews

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The Federal Reserve System has historically been criticized for placing too much emphasis on insuring the short-run stability of financial markets and too little emphasis on real sector goals.

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Katrina Mullen (804) 697-8145

Working Papers

Alternative Optimal Open Market Strategies: A Classical Optimization Certainty Equivalence Approach

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