Federal Reserve's First Monetary Policy Report for 1980: Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, Second Session ... February 25 and 26, 1980
U.S. Government Printing Office, 1980 - Monetary policy - 279 pages
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Opening statement of Chairman Proxmire
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accounts annual rate bank credit bank reserves banking system billion Board of Governors borrowing banks budget Chairman VOLCKER Chart checkable deposits commercial banks components consumer demand deposits depositary institutions discount rate dollar economic employment Eurodollars excess reserves expansion Federal funds rate Federal Reserve System ﬁnancial ﬁscal Forecast foreign exchange markets fourth quarter GRIGGS growth rates income inﬂation loan M—lB market interest rates market mutual fund measures monetary aggregates monetary base monetary growth monetary policy money and credit money growth money market mutual money stock money supply mutual fund shares nonborrowed reserves number of Banks number of days old M-2 open market operations percent period problem productivity rate of growth reduce repurchase agreements required reserves reserve aggregates reserve requirements reserve target restraint savings seasonally adjusted sector Senator STEVENSON speciﬁc spending target range there’s thrift institutions total reserves wage