Monetary Policy

Monetary Policy-Monetary Policy
Monetary Policy


Monetary policy in the United States comprises the Federal Reserve’s actions and communications to promote maximum employment, stable prices, and moderate long-term interest rates–the economic goals the Congress has instructed the Federal Reserve to pursue.





The links below open a sequence of short notes on the principles of sound monetary policy and central banks’ practices in setting and implementing monetary policy. The notes are intended to be read in order. The references cited in the footnotes provide additional detail.

Monetary Policy: What Are Its Goals? How Does It Work?

Historical Approaches to Monetary Policy

Principles for the Conduct of Monetary Policy

Policy Rules and How Policymakers Use Them

Challenges Associated with Using Rules to Make Monetary Policy

Monetary Policy Strategies of Major Central Banks


More on Monetary Policy



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