1997•Studies in Economics and FinanceRequires access
FOMC ANTI‐INFLATION POLICY: A QUICKER TRIGGER OR NOTHING NEW
Roger W. Spencer, John H. Huston
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Abstract
This paper examines the thesis that the Federal Reserve adopted a tighter monetary policy in 1994 than economic conditions warranted. The empirical evidence suggests the FOMC did react differently to the basic economic indicators than under economic normalcy, but not differently than it would have under similar, prior tight money economic conditions. E52