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21 - Monetary Policy in the 1960s

from Part VI - The 1960s

Published online by Cambridge University Press:  14 January 2021

Kenneth D. Garbade
Affiliation:
Federal Reserve Bank of New York
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Summary

Describes the transition from an interval of non-inflationary growth at the beginning of the decade to the first appearance of what would later become a virulent inflation. Start/stop efforts to rein in inflation led to more volatile interest rates and growing Federal Reserve impatience with its commitment to maintaining an “even keel” during Treasury offerings.

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Chapter
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After the Accord
A History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979
, pp. 337 - 350
Publisher: Cambridge University Press
Print publication year: 2021

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