Uncertainties in formulating monetary policy: hearing before the Commerce, Consumer, and Monetary Affairs Subcommittee of the Committee on Government Operations, House of Representatives, One Hundred Third Congress, second session, August 10, 1994
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accounts affect Alan Greenspan analysis Axilrod become bias biases central bank Chairman Commerce Department conceptual Congress Consumer Price Index cost credit crunch difficult dollar domestic Dornbusch economic data economic forecasting economic statistics errors estimates example exchange rates expectations fact factors Fed's Federal funds rate Federal Reserve financial system fluctuations funds rate adjust GENE GREEN goal going Government Operations Greenspan gross domestic product growth Horn impact important improve increase indicator inflation rate inflation targets interest rates issue judgments Knut Wicksell labor less long-term look markets measure ment methodology monetary aggregates monetary base monetary policy money supply move nomic numbers output percent period predict price stability problem question recent recession revision role Rudi Dornbusch service sector Shays significantly sources of uncertainty Spratt structural changes Subcommittee survey testimony Thank tightening trends understanding variable Wyss