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No, only since Bernanke. So it’s very recent and not something that was historically done by Fed chairs.
by reenorap 3mo ago
No, only since Bernanke. So it’s very recent and not something that was historically done by Fed chairs.
- Animats 3mo agoThe Fed is tasked with keeping inflation down and employment up. But they only have one knob.
- CGMthrowaway 3mo agohttps://www.federalreserve.gov/monetarypolicy/policytools.htm https://www.federalreserve.gov/monetarypolicy/policytools.ht...
- CalChris 3mo agoIt started with Greenspan but ramped up under Bernanke. https://www.richmondfed.org/publications/research/econ_focus/2022/q4_federal_reserve https://www.richmondfed.org/publications/research/econ_focus...
- CGMthrowaway 3mo agoNot quite. "Notably, in 1974, Federal Reserve chair Arthur Burns felt it necessary to make clear that high nominal interest rates would need to continue “for a time” as an anti-inflation measure;" "A later chair, Paul Volcker, having presided over a period of very restrictive monetary policy, chose in March 1982 to make an explicit indication that nominal interest rates would and should fall in the period ahead." https://www.federalreserve.gov/econres/feds/files/2021033pap.pdf https://www.federalreserve.gov/econres/feds/files/2021033pap...