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The FED’s Strategy on a Targets-based Monetary Policy Framework

Author

Listed:
  • Florian Gerth

    (Asian Institute of Management, Makati, Manila, Philippines)

  • Yiyang Bian

    (Faculty of Business, University of Wollongong in Dubai, Dubai, UAE)

Abstract

Major economic and financial contractions usually go hand-in-hand with muted inflation. This has been true for the Great Depression, the Global Financial Crisis, as well as the Covid-19 crisis. In this paper, we theoretically highlight and discuss the evolution of instruments and approaches monetary-policy decision makers at the Federal Reserve have in lifting inflation to desired levels in times of the zero-lower bound, paying particular focus on more rigorous developments like asymmetric average inflation and temporary price-level targeting.

Suggested Citation

  • Florian Gerth & Yiyang Bian, 2023. "The FED’s Strategy on a Targets-based Monetary Policy Framework," Financial Economics Letters, Anser Press, vol. 2(1), pages 22-29, June.
    • Handle: RePEc:bba:j00007:v:2:y:2023:i:1:p:22-29:d:130
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