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The devolution of federal reserve monetary policy strategy, 2012–24.

The Federal Open Market Committee's 2012 Statement on Longer‐Run Goals and Monetary Policy Strategy interprets the Federal Reserve's dual mandate in light of the natural rate hypothesis and the New Keynesian "divine coincidence." It sets a quantitative objective for inflation but not unemployment an...

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Published in:Southern Economic Journal Vol. 91; no. 4; pp. 1247 - 1265
Main Author: Ireland, Peter N.
Format: Article
Published: Wiley-Blackwell Apr2025
Subjects:
United States. Federal Open Market Committee
Board of Governors of the Federal Reserve System (U.S.)
Price inflation
Unemployment
Macroeconomics
Economic stabilization
Monetary policy
Phillips curve
Federal Reserve banks
Online Access:View this record in EBSCOhost