Since the Late 1980s, Under Alan Greenspan, the Fed's Operating

Multiple Choice

Since the late 1980s, under Alan Greenspan, the Fed's operating instructions to the New York trading desk typically took the form of

A) a short-term interest rate target.
B) ^{an M}1 ^target.
C) ^{an M}3 ^target.
D) a nominal GDP target.
E) a real GDP target.