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Changes in US Monetary Policy: Past and Prospective

In: Investing in the Trump Era

Author

Listed:
  • Nicholas P. Sargen

    (Fort Washington Investment Advisors)

Abstract

This chapter begins by reviewing the Fed’s greatest achievement over the past four decades—namely, reining in inflation and inflation expectations in the early 1980s under Paul Volcker’s leadership and continuing with Alan Greenspan. This set the stage for a steady decline in interest rates that fueled the economy and financial markets until 1999. As inflation declined, however, credit expansion proliferated and a series of asset bubbles ensued, which culminated in the 2008 Global Financial Crisis and Great Recession.

Suggested Citation

  • Nicholas P. Sargen, 2018. "Changes in US Monetary Policy: Past and Prospective," Springer Books, in: Investing in the Trump Era, chapter 0, pages 95-106, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-76045-2_7
    DOI: 10.1007/978-3-319-76045-2_7
    as

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