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The Tools and Transmission of Federal Reserve Monetary Policy in the 1920s

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Listed:
  • Mark A. Carlson
  • Burcu Duygan-Bump

Abstract

This note describes the tools used by the Federal Reserve (Fed) to implement monetary policy in the 1920s and the degree to which changes in these tools were transmitted to private money markets. In doing so, we hope to provide some historical perspective to the renewed debate around monetary policy frameworks and toolkits.

Suggested Citation

  • Mark A. Carlson & Burcu Duygan-Bump, 2016. "The Tools and Transmission of Federal Reserve Monetary Policy in the 1920s," FEDS Notes 2016-11-22, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfn:2016-11-22
    DOI: https://doi.org/10.17016/2380-7172.1871
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    File URL: https://www.federalreserve.gov/econresdata/notes/feds-notes/2016/tools-and-transmission-of-federal-reserve-monetary-policy-in-the-1920s-20161122.html
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