Exam 19: The Conduct of Monetary Policy: Strategy and Tactics

Lessons that economists and policy makers have learned from the recent global financial crisis include

Large fluctuations in money supply growth and smaller fluctuations in the federal funds rate between October 1982 and the early 1990s indicate that the Fed had shifted to ________ as an operating target.

In practice, the Fed's policy of targeting money market conditions in the 1960s proved to be

The first country to adopt inflation targeting was

Either a dual or hierarchial mandate is acceptable as long as ________ is the primary goal in the ________.