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Credible monetary policy to sustain growth

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  • Thomas C. Melzer

Abstract

Despite the fact that the U.S. economy has been performing very well recently, monetary policymakers have been the targets of some criticism. In the speech reprinted here, which was delivered to a group of bankers in June 1997, St. Louis Federal Reserve President Thomas C. Melzer responds to the critics and outlines some ideas for maintaining sustaining, noninflationary economic growth. In his assessment, credibility is a key aspect of successful monetary policy.

Suggested Citation

  • Thomas C. Melzer, 1997. "Credible monetary policy to sustain growth," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 1-5.
    • Handle: RePEc:fip:fedlrv:y:1997:i:jul:p:1-5
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    File URL: https://files.stlouisfed.org/files/htdocs/publications/review/97/07/9707tm.pdf
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    References listed on IDEAS

    as
    1. Michael Bruno & William Easterly, 1996. "Inflation and growth: in search of a stable relationship," Review, Federal Reserve Bank of St. Louis, vol. 78(May), pages 139-146.
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