Federal Reserve Responsiveness to Threat-Augmented Signaling

  • Thomas Havrilesky

Abstract

The previous Chapter presented evidence that the Federal Reserve was responsive to monetary policy signaling from the executive branch only under the Chairmanships of Arthur Burns and Paul Volcker during the 1970–1974 and 1979–1984 periods respectively.1 In Chapter Three it was said that these two periods were characterized by unusually high levels of Congressional concern regarding central bank budgetary authority, regulatory powers and monetary policy autonomy.

Keywords

Monetary Policy Central Bank Federal Reserve Real Interest Rate Monetary Authority 
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References

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Copyright information

© Springer Science+Business Media New York 1993

Authors and Affiliations

  • Thomas Havrilesky
    • 1
  1. 1.Duke UniversityDurhamUSA

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