The FOMC in 1990: onset of recession

Federal Open Market Committee

A crude crude oil calculation

Petroleum industry and trade ; Prices

The FOMC in 1991: an elusive recovery

Federal Open Market Committee

Price stability and economic growth: proceedings of the Twentieth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis

Economic development ; Prices

Ahead of the curve

Federal funds rate ; Monetary policy

The Taylor principle and recent FOMC policy

Federal Open Market Committee ; Federal funds rate

Twist and shout, or back to the sixties

Federal funds rate ; Federal Open Market Committee

1994

Federal funds rate ; Federal Reserve System - History

Learning, rational expectations and policy: a summary of recent research

Macroeconomics ; Rational expectations (Economic theory)

The learnability criterion and monetary policy

Expectations of the future play a large role in macroeconomics. The rational expectations assumption, which is commonly used in the literature, provides an important benchmark, but may be too strong for some applications. This paper reviews some recent research that has emphasized methods for analyzing models of learning, in which expectations are not initially rational but which may become rational eventually provided certain conditions are met. Many of the applications are in the context of popular models of monetary policy. The goal of the paper is to provide a largely nontechnical survey of some, but not all, of this work and to point out connections to some related research.Monetary policy ; Rational expectations (Economic theory)