Economic Policy Issues, Issue 1The Board, 1985 - United States |
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Common terms and phrases
annual rate average basis points Ben E billion borrowed-reserves targeting procedure British pound capital inflows cial continued currency markets December decline discount rate disinflation domestic economic expansion economic recovery economists Fed's new monetary federal budget deficits federal funds rate Federal Reserve Board financial markets flation FOMC forecasters foreign capital foreign-exchange GNP growth goal increase industrial inflationary expectations inflows of foreign interest-rate intervention LDC debt long-term M-1 and real major dollar slide merchandise-trade monetary growth monetary policy monetary restraint monetary strategy money and credit money growth money supply nominal GNP nominal interest rates nonborrowed reserves nonfinancial November October Paul Volcker percent range policy in 1985 pressures quarter of 1984 real GNP real interest rates reasonable price stability record Reserve's rise second quarter sharp short-term slow slowdown strong dollar sustainable economic growth target range terest tion Treasury bill rate U.S. inflation rate U.S. interest rates volatile Volcker