Fed considered extreme measures

[edickens]

By "transparent" I mean locked into a certain level of the Federal Funds rate as
the measure of the ease, restraint or neutrality of monetary policy (e.g.,
tightening would mean raising the Federal Funds rate, etc.).  A (the?) central
theme of the history of monetary thought has been an effort to explain why
things are not so simple (e.g., raising the Federal Funds rate would "not
really" be tightening if the inflation rate rose by an equiproportional amount
or a monetary aggregate was shrinking or financial market conditions were
becoming more fragile or... etc.).

Tom Dickens

Seth Ackerman wrote:


>
> When you say "transparent" monetary policy, you mean the requirements that
> they release minutes and transcripts?
>
> Seth