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The Toll of Current Monetary Policy
Putting Our Problems in a Global Perspective
The Fed Strays from the Road to Redemption
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activity assets average basket bonds borrowing central bank commodities cost countries currency Dallas Fed deposits deutsche marks dollar price dollar's value domestic banks economic economists Eurodollar market Euromarket example exchange rates expected Fed's financial intermediation financial markets fixed exchange rate foreign banks foreign branches foreign exchange foreign exchange markets foreign money forward prices francs futures contract global gold standard hold incentive increased interest rates Laffer lending liabilities loans ment Milton Friedman monetarist monetary base Monetary Control Act monetary policy money demand money growth money supply monies numbers percent policy makers price level price of gold price rule price stability private market private sector problem quantity of dollars quantity of money quantity rule regulation relationship relative repurchase agreements reserve requirements rise seasonal adjustment spot price supply of money Swiss francs target tion today's Treasury U.S. banks U.S. dollar unhinged money velocity volatile