Monetary policy report to the Congress, July 18, 2001
AbstractThe weakness in the economy that emerged late last year has become more persistent and widespread. In response, the FOMC has lowered the target federal funds rate six times this year, for a cumulative total reduction of 2-3/4 percentage points. A number of factors account for this unusually steep reduction in the federal funds rate, including the magnitude and rapidity of the slowdown and the need to offset a stronger dollar and lower equity prices. At midyear the information available for the recent performance of both the U.S. economy and some of our key trading partners remains somewhat downbeat, on balance. Nonetheless, a number of factors are in place that should set the stage for stronger growth later this year and in 2002. Moreover, the outlook for productivity growth over the longer run remains favorable.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Board of Governors of the Federal Reserve System (U.S.) in its journal Federal Reserve Bulletin.
Volume (Year): (2001)
Issue (Month): Aug ()
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Kosuke Aoki & James Proudman & Gertjan Vlieghe, 2002.
"House prices, consumption, and monetary policy: a financial accelerator approach,"
Bank of England working papers
169, Bank of England.
- Aoki, Kosuke & Proudman, James & Vlieghe, Gertjan, 2004. "House prices, consumption, and monetary policy: a financial accelerator approach," Journal of Financial Intermediation, Elsevier, vol. 13(4), pages 414-435, October.
- Aoki, Kosuke & James Proudman & Gertjan Vlieghe, 2003. "House prices, consumption, and monetary policy: a financial accelerator approach," Royal Economic Society Annual Conference 2003 7, Royal Economic Society.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kris Vajs).
If references are entirely missing, you can add them using this form.