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Determinants of the Federal funds rate: 1979 - 1982

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  • Timothy Q. Cook

Abstract

In the late 1970s the money stock was growing at a faster rate than desired, the rate of inflation was accelerating, and the dollar was steadily depreciating in the foreign exchange markets. In an attempt to reverse these developments the Federal Reserve on October 6, 1979 announced several actions, including a change in its operating procedures to place more emphasis on managing the growth of bank reserves in order to improve monetary control.

Suggested Citation

  • Timothy Q. Cook, 1988. "Determinants of the Federal funds rate: 1979 - 1982," Working Paper 88-07, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:fedrwp:88-07
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    References listed on IDEAS

    as
    1. Karamouzis, Nicholas & Lombra, Raymond, 1989. "Federal reserve policymaking: an overview and analysis of the policy process," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 30(1), pages 7-62, January.
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    5. Spindt, Paul A. & Tarhan, Vefa, 1987. "The Federal Reserve's new operating procedures : A post mortem," Journal of Monetary Economics, Elsevier, vol. 19(1), pages 107-123, January.
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    Federal funds rate;

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