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Boundless Lecture Slides. Available on the Boundless Teaching Platform. Free to share, print, make copies and changes. Get yours at www.boundless.com. Using Boundless Presentations. Boundless Teaching Platform

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Boundless Lecture Slides

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  1. Boundless Lecture Slides Available on the Boundless Teaching Platform Free to share, print, make copies and changes. Get yours at www.boundless.com

  2. Using Boundless Presentations Boundless Teaching Platform Boundless empowers educators to engage their students with affordable, customizable textbooks and intuitive teaching tools. The free Boundless Teaching Platform gives educators the ability to customize textbooks in more than 20 subjects that align to hundreds of popular titles. Get started by using high quality Boundless books, or make switching to our platform easier by building from Boundless content pre-organized to match the assigned textbook. This platform gives educators the tools they need to assign readings and assessments, monitor student activity, and lead their classes with pre-made teaching resources. Get started now at: • The Appendix The appendix is for you to use to add depth and breadth to your lectures. You can simply drag and drop slides from the appendix into the main presentation to make for a richer lecture experience. http://boundless.com/teaching-platform • Free to edit, share, and copy Feel free to edit, share, and make as many copies of the Boundless presentations as you like. We encourage you to take these presentations and make them your own. If you have any questions or problems please email: educators@boundless.com Free to share, print, make copies and changes. Get yours at www.boundless.com

  3. About Boundless • Boundless is an innovative technology company making education more affordable and accessible for students everywhere. The company creates the world’s best open educational content in 20+ subjects that align to more than 1,000 popular college textbooks. Boundless integrates learning technology into all its premium books to help students study more efficiently at a fraction of the cost of traditional textbooks. The company also empowers educators to engage their students more effectively through customizable books and intuitive teaching tools as part of the Boundless Teaching Platform. More than 2 million learners access Boundless free and premium content each month across the company’s wide distribution platforms, including its website, iOS apps, Kindle books, and iBooks. To get started learning or teaching with Boundless, visit boundless.com. Free to share, print, make copies and changes. Get yours at www.boundless.com

  4. Introduction to Monetary Policy Monetary Policy Monetary Policy Tools Impacts of Federal Reserve Policies Historical Federal Reserve Policies ] Monetary Policy Free to share, print, make copies and changes. Get yours at www.boundless.com

  5. Monetary Policy > Introduction to Monetary Policy Introduction to Monetary Policy • The Demand for Money • Shifts in the Money Demand Curve • The Equilibrium Interest Rate Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/economics/textbooks/boundless-economics-textbook/monetary-policy-28/introduction-to-monetary-policy-117/

  6. Monetary Policy > Monetary Policy Tools Monetary Policy Tools • The Reserve Ratio • The Discount Rate • The Federal Funds Rate • Open Market Operations • Setting and Achieving the Interest Rate Target • Executing Expansionary Monetary Policy • Executing Restrictive Monetary Policy • The Taylor Rule Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/economics/textbooks/boundless-economics-textbook/monetary-policy-28/monetary-policy-tools-118/

  7. Monetary Policy > Impacts of Federal Reserve Policies Impacts of Federal Reserve Policies • The Impact of Monetary Policy on Aggregate Demand, Prices, and Real GDP • The Effect of Expansionary Monetary Policy • The Effect of Restrictive Monetary Policy • Limitations of Monetary Policy • Using Monetary Policy to Target Inflation Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/economics/textbooks/boundless-economics-textbook/monetary-policy-28/impacts-of-federal-reserve-policies-119/

  8. Monetary Policy > Historical Federal Reserve Policies Historical Federal Reserve Policies • Volcker Disinflation • Greenspan Era • Bernanke Era Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/economics/textbooks/boundless-economics-textbook/monetary-policy-28/historical-federal-reserve-policies-120/

  9. Appendix Free to share, print, make copies and changes. Get yours at www.boundless.com

  10. Monetary Policy Key terms • aggregate demandThe the total demand for final goods and services in the economy at a given time and price level. • assetSomething or someone of any value; any portion of one's property or effects so considered. • assetSomething or someone of any value; any portion of one's property or effects so considered. • consumer price indexA statistical estimate of the level of prices of goods and services bought for consumption purposes by households. • contractionary monetary policyCentral bank actions designed to slow economic growth. • deflationA decrease in the general price level, that is, in the nominal cost of goods and services. • deflationA decrease in the general price level, that is, in the nominal cost of goods and services. • discount rateAn interest rate that a central bank charges to depository institutions that borrow reserves from it. • equilibriumThe condition of a system in which competing influences are balanced, resulting in no net change. • expansionary monetary policyTraditionally used to try to combat unemployment in a recession by lowering interest rates in the hope that easy credit will entice businesses into expanding. • fed funds rateShort for Federal Funds rate. The interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight, on an uncollateralized basis. • fed funds rateShort for Federal Funds rate. The interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight, on an uncollateralized basis. Free to share, print, make copies and changes. Get yours at www.boundless.com

  11. Monetary Policy • fed funds rateShort for Federal Funds rate. The interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight, on an uncollateralized basis. • fed funds target rateThe interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight, on an uncollateralized basis. • federal funds rateThe interest rate at which depository institutions actively trade balances held at the Federal Reserve with each other. • financial crisisA period of serious economic slowdown characterized by devaluing of financial institutions often due to reckless and unsustainable money lending. • full employmentA state when an economy has no cyclical or deficient-demand unemployment. • inflationAn increase in the general level of prices or in the cost of living. • inflationAn increase in the general level of prices or in the cost of living. • interest rateThe percentage of an amount of money charged for its use per some period of time (often a year). • interest rateThe percentage of an amount of money charged for its use per some period of time (often a year). • loanable fundsMoney available to be issued as debt. • monetary policyThe process by which the central bank, or monetary authority manages the supply of money, or trading in foreign exchange markets. • money supplyThe total amount of money (bills, coins, loans, credit, and other liquid instruments) in a particular economy. Free to share, print, make copies and changes. Get yours at www.boundless.com

  12. Monetary Policy • money supplyThe total amount of money (bills, coins, loans, credit, and other liquid instruments) in a particular economy. • nominal interest rateThe rate of interest before adjustment for inflation. • open market operationsAn activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy. • open market operationsAn activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy. • open market operationsAn activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy. • open market operationsAn activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy. • reserveBanks' holdings of deposits in accounts with their central bank. • reserve ratioA central bank regulation employed by most, but not all, of the world's central banks, that sets the minimum fraction of customer deposits and notes that each commercial bank must hold as reserves (rather than lend out). • reserve requirementThe minimum amount of deposits each commercial bank must hold (rather than lend out). • stagflationInflation accompanied by stagnant growth, unemployment, or recession. • Taylor RuleA way of determining the appropriate change in interest rates for a given change in inflation. • unemploymentThe state of being jobless and looking for work. Free to share, print, make copies and changes. Get yours at www.boundless.com

  13. Monetary Policy Federal Funds Rate This graph shows the fluctuations in the federal funds rate from 1954-2009. The Federal Reserve implements monetary policy through the federal funds rate. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Federal Funds Rate 1954 thru 2009 effective."CC BY-SAhttp://en.wikipedia.org/wiki/File:Federal_Funds_Rate_1954_thru_2009_effective.svgView on Boundless.com

  14. Monetary Policy Fluctuation in Interest Rates This graph shows the fluctuation in interest rates in Germany from 1967 to 2003. Interest rates fluctuate over time as the result of numerous factors. In Germany, the interest rates dropped from 14% in 1967 to almost 2% in 2003. This graph illustrates the fluctuations that can occur in the short-run and long-run. Interest rates fluctuate based on certain economic factors. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."German bank interest rates from 1967 to 2003 grid."Public domainhttp://en.wikipedia.org/wiki/File:German_bank_interest_rates_from_1967_to_2003_grid.svgView on Boundless.com

  15. Monetary Policy Alan Greenspan Alan Greenspan was the 13th Chairman of the Federal Reserve. He held the position from 1987 until 2006. His tenure as the chairman was marked by low interest rates which eventually were blamed for the 2007 mortgage crisis in the United States. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Alan Greenspan color photo portrait."Public domainhttp://en.wikipedia.org/wiki/File:Alan_Greenspan_color_photo_portrait.jpgView on Boundless.com

  16. Monetary Policy Paul Volcker Paul Volcker was the 12th Chairman of the Federal Reserves. He became known for decreasing inflation during the early 1980s. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Paulvolcker."Public domainhttp://en.wikipedia.org/wiki/File:Paulvolcker.jpgView on Boundless.com

  17. Monetary Policy Federal Reserve-US Central Bank The Federal Reserve is charged with maintaining sustainable economic growth. To carry out its responsibilities, the "Fed" uses policies including the reserve ratio to adjust the money supply to either incentivize growth or slow down growth, as needed. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia.CC BY-SAhttp://upload.wikimedia.org/wikipedia/commons/thumb/f/f4/Federal_Reserve.jpg/800px-Federal_Reserve.jpgView on Boundless.com

  18. Monetary Policy Historical effective federal funds target rate The graphic depicts the movement in the effective federal funds target rate. The target rate has historically been set in terms of a range; the current range as depicted in the graph is 0.00 to 0.25 percent. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia.CC BYhttp://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Federal_Funds_Rate_1954_thru_2009_effective.svg/640px-Federal_Funds_Rate_1954_thru_2009_effective.svg.pngView on Boundless.com

  19. Monetary Policy Fed Reserve Seal The United States Federal Reserve uses a form of inflation targeting when coordinating its monetary policy. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."US-FederalReserveSystem-Seal."Public domainhttp://en.wikipedia.org/wiki/File:US-FederalReserveSystem-Seal.svgView on Boundless.com

  20. Monetary Policy Historical discount and fed fund target rates The discount rate is higher than the fed funds target rate and the variance serves as a disincentive for banks to seek funds or short-term borrowings from the Fed. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Discount window."GNU FDLhttp://en.wikipedia.org/wiki/Discount_windowView on Boundless.com

  21. Monetary Policy Relationship between money supply and interest rates As money supply increases, the interest rate decreases, as depicted in the graph above. Free to share, print, make copies and changes. Get yours at www.boundless.com Boundless Learning."Boundless."CC BY-SA 3.0https://figures.boundless.com/332/large/money-supply.jpegView on Boundless.com

  22. Monetary Policy Aggregate Demand Graph This graph shows the effect of expansionary monetary policy, which shifts aggregate demand (AD) to the right. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."AS AD graph."CC BY-SAhttp://en.wikipedia.org/wiki/File:AS_+_AD_graph.svgView on Boundless.com

  23. Monetary Policy Business cycle Restrictive monetary policy is used during expansion and boom periods in the business cycle to prevent the overheating of the economy. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Economic cycle."Public domainhttp://commons.wikimedia.org/wiki/File:Economic_cycle.svgView on Boundless.com

  24. Monetary Policy Bank of England Interest Rates The Bank of England (the central bank in England) undertook expansionary monetary policy and lowered interest rates, promoting investment. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Interest rates (1997-2010)."CC BY-SAhttp://commons.wikimedia.org/wiki/File:Interest_rates_(1997-2010).pngView on Boundless.com

  25. Monetary Policy Contractionary monetary policy Contractionary monetary policy results in a reduction in the money supply, depicted as a leftward shift, which results in an increase in interest rates as well as a decrease in the quantity of loanable funds. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikispaces.CC BY-SAhttp://moeller.wikispaces.com/file/view/graph2.GIF/72394431/graph2.GIFView on Boundless.com

  26. Monetary Policy Shift of the Demand Curve The graph shows both the supply and demand curve, with quantity of money on the x-axis (Q) and the price of money as interest rates on the y-axis (P). When the quantity of money demanded increase, the price of money (interest rates) also increases, and causes the demand curve to increase and shift to the right. A decrease in demand would shift the curve to the left. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Supply-and-demand."GNU FDLhttp://en.wikipedia.org/wiki/File:Supply-and-demand.svgView on Boundless.com

  27. Monetary Policy Ben Bernanke Ben Bernanke (right) was appointed chairman of the Federal Reserve by President Bush and he was reappointed by President Obama. Throughout his time as chairman, Bernanke has influenced the financial crisis, the Wall Street bailout, and the economic stimulus. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."President Barack Obama meets with Federal Reserve Chairman Ben Bernanke 4-10-09."Public domainhttp://en.wikipedia.org/wiki/File:President_Barack_Obama_meets_with_Federal_Reserve_Chairman_Ben_Bernanke_4-10-09.jpgView on Boundless.com

  28. Monetary Policy Liquidity Trap Sometimes, when the money supply is increased, as shown by the Liquidity Preference-Money Supply (LM) curve shift, it has no impact on output (GDP or Y) or on interest rates. This is a liquidity trap. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Liquidity trap IS-LM."CC BY-SAhttp://en.wikipedia.org/wiki/File:Liquidity_trap_IS-LM.svgView on Boundless.com

  29. Monetary Policy Federal Funds Rate 1954-2009 The graph shows the federal funds rate for the past fifty years. The peak in the 1980s reflects the contractionary monetary policy the Fed instituted to combat high levels of inflation due to oil shocks, and the low rate in the late 2000s reflects expansionary monetary policy meant to combat the effects of recession. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Federal Funds Rate 1954 thru 2009 effective."CC BY-SAhttp://en.wikipedia.org/wiki/File:Federal_Funds_Rate_1954_thru_2009_effective.svgView on Boundless.com

  30. Monetary Policy Professor John Taylor Stanford University Professor John Taylor is the creator of the Taylor Rule, a monetary policy instrument developed to promote stable economic growth and limit short-run economic disruption related to inflation. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia.CC BYhttp://upload.wikimedia.org/wikipedia/commons/thumb/0/00/JohnBTaylor.jpg/220px-JohnBTaylor.jpgView on Boundless.com

  31. Monetary Policy US Treasury Bill Yields By buying and selling US Treasury bills on the open market, the Federal Reserve hopes to change their yields, which will then affect the interest rates in the broader market. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."US Treasury bills and bonds yield."CC BYhttp://commons.wikimedia.org/wiki/File:US_Treasury_bills_and_bonds_yield.pngView on Boundless.com

  32. Monetary Policy Attribution • Wiktionary."money supply."CC BY-SA 3.0http://en.wiktionary.org/wiki/money_supply • Wiktionary."asset."CC BY-SA 3.0http://en.wiktionary.org/wiki/asset • Wikipedia."Expansionary policies."CC BY-SA 3.0http://en.wikipedia.org/wiki/Expansionary_policies • Wikipedia."Interest rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/Interest_rate%23Reasons_for_interest_rate_changes • Wikipedia."Money supply."CC BY-SA 3.0http://en.wikipedia.org/wiki/Money_supply • Wikipedia."Money demand."CC BY-SA 3.0http://en.wikipedia.org/wiki/Money_demand • Wiktionary."asset."CC BY-SA 3.0http://en.wiktionary.org/wiki/asset • Wikipedia."nominal interest rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/nominal%20interest%20rate • Wikipedia."Demand curve."CC BY-SA 3.0http://en.wikipedia.org/wiki/Demand_curve • Wikipedia."Money demand."CC BY-SA 3.0http://en.wikipedia.org/wiki/Money_demand • Wiktionary."interest rate."CC BY-SA 3.0http://en.wiktionary.org/wiki/interest_rate • Wiktionary."equilibrium."CC BY-SA 3.0http://en.wiktionary.org/wiki/equilibrium • Wikipedia."Money supply."CC BY-SA 3.0http://en.wikipedia.org/wiki/Money_supply%23Monetary_exchange_equation • Wikipedia."Market equilibrium."CC BY-SA 3.0http://en.wikipedia.org/wiki/Market_equilibrium • Wikipedia."Interest rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/Interest_rate%23Reasons_for_interest_rate_changes • Wiktionary."money supply."CC BY-SA 3.0http://en.wiktionary.org/wiki/money_supply • Wiktionary."monetary policy."CC BY-SA 3.0http://en.wiktionary.org/wiki/monetary_policy Free to share, print, make copies and changes. Get yours at www.boundless.com

  33. Monetary Policy • Boundless Learning."Boundless."CC BY-SA 3.0http://www.boundless.com//economics/definition/loanable-funds • Wikipedia."Reserve requirement."CC BY-SA 3.0http://en.wikipedia.org/wiki/Reserve_requirement • Wiktionary."discount rate."CC BY-SA 3.0http://en.wiktionary.org/wiki/discount_rate • Wikipedia."fed funds rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/fed%20funds%20rate • Wikipedia."open market operations."CC BY-SA 3.0http://en.wikipedia.org/wiki/open%20market%20operations • Wikipedia."Bank rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/Bank_rate • Wikipedia."Discount window."CC BY-SA 3.0http://en.wikipedia.org/wiki/Discount_window • Wikipedia."fed funds target rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/fed%20funds%20target%20rate • Wikipedia."open market operations."CC BY-SA 3.0http://en.wikipedia.org/wiki/open%20market%20operations • U.S. Federal Reserve System."FRB: Open Market Operations."Public domainhttp://www.federalreserve.gov/monetarypolicy/openmarket.htm • Wikipedia."reserve ratio."CC BY-SA 3.0http://en.wikipedia.org/wiki/reserve%20ratio • Wikipedia."open market operations."CC BY-SA 3.0http://en.wikipedia.org/wiki/open%20market%20operations • Wikipedia."fed funds rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/fed%20funds%20rate • Wikipedia."Federal funds rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/Federal_funds_rate • Wikipedia."reserve requirement."CC BY-SA 3.0http://en.wikipedia.org/wiki/reserve%20requirement • Wikipedia."open market operations."CC BY-SA 3.0http://en.wikipedia.org/wiki/open%20market%20operations • Wikipedia."fed funds rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/fed%20funds%20rate • Wikipedia."Open market operation."CC BY-SA 3.0http://en.wikipedia.org/wiki/Open_market_operation • Wikipedia."Federal funds rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/Federal_funds_rate Free to share, print, make copies and changes. Get yours at www.boundless.com

  34. Monetary Policy • Wikipedia."Federal funds."CC BY-SA 3.0http://en.wikipedia.org/wiki/Federal_funds • Wikipedia."Reserve requirement."CC BY-SA 3.0http://en.wikipedia.org/wiki/Reserve_requirement • Wikipedia."Monetary policy."CC BY-SA 3.0http://en.wikipedia.org/wiki/Monetary_policy • Boundless Learning."Boundless."CC BY-SA 3.0http://www.boundless.com//economics/definition/full-employment • Wikipedia."Monetary policy."CC BY-SA 3.0http://en.wikipedia.org/wiki/Monetary_policy • Boundless Learning."Boundless."CC BY-SA 3.0http://www.boundless.com//economics/definition/taylor-rule • Wikipedia."Taylor rule."CC BY-SA 3.0http://en.wikipedia.org/wiki/Taylor_rule • Wikipedia."aggregate demand."CC BY-SA 3.0http://en.wikipedia.org/wiki/aggregate%20demand • Wikipedia."Gross domestic product."CC BY-SA 3.0http://en.wikipedia.org/wiki/Gross_domestic_product • Wikibooks."Macroeconomics/Monetary Policy."CC BY-SA 3.0http://en.wikibooks.org/wiki/Macroeconomics/Monetary_Policy • Wikipedia."Aggregate demand."CC BY-SA 3.0http://en.wikipedia.org/wiki/Aggregate_demand • Boundless Learning."Boundless."CC BY-SA 3.0http://www.boundless.com//economics/definition/unemployment • Wikipedia."expansionary monetary policy."CC BY-SA 3.0http://en.wikipedia.org/wiki/expansionary%20monetary%20policy • Wikipedia."Aggregate demand."CC BY-SA 3.0http://en.wikipedia.org/wiki/Aggregate_demand • Wikipedia."Interest rates."CC BY-SA 3.0http://en.wikipedia.org/wiki/Interest_rates • Wikipedia."Inflation."CC BY-SA 3.0http://en.wikipedia.org/wiki/Inflation • Wikipedia."Repurchase agreement."CC BY-SA 3.0http://en.wikipedia.org/wiki/Repurchase_agreement • Wikipedia."Open market operations."CC BY-SA 3.0http://en.wikipedia.org/wiki/Open_market_operations • Wikipedia."Monetary policy."CC BY-SA 3.0http://en.wikipedia.org/wiki/Monetary_policy%23General Free to share, print, make copies and changes. Get yours at www.boundless.com

  35. Monetary Policy • Boundless Learning."Boundless."CC BY-SA 3.0http://www.boundless.com//economics/definition/contractionary-monetary-policy • Wikipedia."Discount window."CC BY-SA 3.0http://en.wikipedia.org/wiki/Discount_window • Wikipedia."Open market operations."CC BY-SA 3.0http://en.wikipedia.org/wiki/Open_market_operations • Wikipedia."Cpi."CC BY-SA 3.0http://en.wikipedia.org/wiki/Cpi • Wikipedia."Monetary policy."CC BY-SA 3.0http://en.wikipedia.org/wiki/Monetary_policy%23Overview • Wiktionary."deflation."CC BY-SA 3.0http://en.wiktionary.org/wiki/deflation • Wikipedia."Monetary policy."CC BY-SA 3.0http://en.wikipedia.org/wiki/Monetary_policy • Wikipedia."Velocity of money."CC BY-SA 3.0http://en.wikipedia.org/wiki/Velocity_of_money • Wikipedia."Deflation."CC BY-SA 3.0http://en.wikipedia.org/wiki/Deflation • Wikipedia."Liquidity trap."CC BY-SA 3.0http://en.wikipedia.org/wiki/Liquidity_trap • Wiktionary."consumer price index."CC BY-SA 3.0http://en.wiktionary.org/wiki/consumer_price_index • Wikipedia."Cpi."CC BY-SA 3.0http://en.wikipedia.org/wiki/Cpi • Wikipedia."Inflation targeting."CC BY-SA 3.0http://en.wikipedia.org/wiki/Inflation_targeting • Wiktionary."stagflation."CC BY-SA 3.0http://en.wiktionary.org/wiki/stagflation • Wiktionary."inflation."CC BY-SA 3.0http://en.wiktionary.org/wiki/inflation • Wikipedia."Paul Volcker."CC BY-SA 3.0http://en.wikipedia.org/wiki/Paul_Volcker • Wiktionary."interest rate."CC BY-SA 3.0http://en.wiktionary.org/wiki/interest_rate • Wikipedia."Alan Greenspan."CC BY-SA 3.0http://en.wikipedia.org/wiki/Alan_Greenspan • Wiktionary."financial crisis."CC BY-SA 3.0http://en.wiktionary.org/wiki/financial_crisis Free to share, print, make copies and changes. Get yours at www.boundless.com

  36. Monetary Policy • Wiktionary."deflation."CC BY-SA 3.0http://en.wiktionary.org/wiki/deflation • Wiktionary."inflation."CC BY-SA 3.0http://en.wiktionary.org/wiki/inflation • Wikipedia."Bernanke Doctrine."CC BY-SA 3.0http://en.wikipedia.org/wiki/Bernanke_Doctrine • Wikipedia."Great Moderation."CC BY-SA 3.0http://en.wikipedia.org/wiki/Great_Moderation • Wikipedia."Ben Bernanke."CC BY-SA 3.0http://en.wikipedia.org/wiki/Ben_Bernanke • Boundless Learning."Boundless."CC BY-SA 3.0http://www.boundless.com//economics/definition/federal-funds-rate • Wikipedia."reserve."CC BY-SA 3.0http://en.wikipedia.org/wiki/reserve • Wikipedia."Federal funds rate."CC BY-SA 3.0http://en.wikipedia.org/wiki/Federal_funds_rate Free to share, print, make copies and changes. Get yours at www.boundless.com

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