196 posts on "Monetary Policy"
November 18, 2015
The Importance of Commodity Prices in Understanding U.S. Import Prices and Inflation
The dollar rose sharply against both the euro and yen in 2014 and 2015 and non-oil import prices subsequently fell.
Posted at 7:00 am in Inflation, International Economics, Macroeconomics, Monetary Policy | Permalink
November 16, 2015
Should Monetary Policy Respond to Financial Conditions?
Bianca De Paoli There’s an ongoing debate about whether policymakers should respond to financial conditions when setting monetary policy. An argument is often made that financial stability concerns are more appropriately dealt with by using regulatory and macroprudential tools. This post offers a theoretical justification for policymakers to monitor and possibly respond to financial conditions […]
November 9, 2015
The New Overnight Bank Funding Rate
The Federal Reserve Bank of New York will begin publishing the overnight bank funding rate (OBFR) sometime in the first few months of 2016.
Posted at 7:00 am in Financial Markets, Household Finance, Monetary Policy | Permalink | Comments (2)
November 5, 2015
How Did Quantitative Easing Interact with Regional Inequality?
Income, or wealth, inequality is not something that central bankers generally worry about when setting monetary policy, the goals of which are to maintain price stability and promote full employment.
Posted at 7:05 am in Household Finance, Housing, Inequality, Macroeconomics, Monetary Policy, Regional Analysis, Unemployment | Permalink
September 23, 2015
How Much Do Inflation Expectations Matter for Inflation Dynamics?
Inflation dynamics are often described by some form of the Phillips curve.
August 27, 2015
From the Vault: Supplementing a Monetary Policy Syllabus
Liberty Street Economics posts from New York Fed economists can serve as teaching tools for new monetary policy and lending tools that are “not found in any textbook.”
August 26, 2015
Mind the Gap: Assessing Labor Market Slack
Indicators of labor market slack enable economists to judge pressures on wages and prices.
August 14, 2015
The Monetary Policy Advice Process at the New York Fed
Research economists discuss their process for providing advice on monetary policy to the New York Fed president ahead of FOMC meetings.
Posted at 10:00 am in Monetary Policy | Permalink
August 12, 2015
Do Asset Purchase Programs Push Capital Abroad?
Thomas Klitgaard and David O. Lucca Euro area sovereign bond yields fell to record lows and the euro weakened after the European Central Bank (ECB) dramatically expanded its asset purchase program in early 2015. Some analysts predicted massive financial outflows spilling out of the euro area and affecting global markets as investors sought higher yields […]
Posted at 7:00 am in Balance of Payments, Euro Area, Exchange Rates, Exports, Financial Markets, International Economics, Monetary Policy | Permalink | Comments (2)
June 8, 2015
The Myth of First‑Quarter Residual Seasonality
The current policy debate is influenced by the possibility that the first-quarter GDP data were affected by “residual seasonality.”
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