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This collection of essays examines the institutional framework in which monetary policy is made. The essays consider two questions: how free is the Fed to set monetary policy and to what extent do organisational problems affect the choice of that monetary policy? Topics covered include the Fed's response to movements on its goals, Congressional and presidential pressures on the Fed, the existence of political business cycles operating through monetary policy, and the extent to which monetary policy may be explained by the Fed's own interests. A final section examines the claim that the Federal Reserve follows counter-cyclical policy and evaluates its performance as a lender to banks both in normal times and as a lender of last resort.

Money. Monetary policy --- United States --- Monetary policy --- 336.74 <73> --- 338.22 <73> --- -politique economique --- politique monetaire --- eua --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 333.111.0 --- 333.111.7 --- 333.110 --- 333.80 --- 333.820 --- -332.1120973 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Geld. Geldwezen. Monetaire sector.--Verenigde Staten van Amerika. VSA. USA --- Economische organisatieleer. Economisch beleid. Economische politiek--Verenigde Staten van Amerika. VSA. USA --- economisch beleid --- monetair beleid --- vsa --- Algemeenheden. Theoretische en beschrijvende studies. Centrale banken. --- Betrekkingen van de centrale banken met de kredietinstellingen. --- Centrale banken en parastatale kredietinstellingen: algemeen. Overheidsbemoeiïng inzake organisatie en verdeling van het krediet. --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden. --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden. --- Board of Governors of the Federal Reserve System (U.S.) --- Sovet upravli︠a︡i︠u︡shchikh FRS --- Federal Reserve System (U.S.) --- F.R.S. --- FRS --- United States. --- Federal Reserve (U.S.) --- Federalʹnai︠a︡ rezervnai︠a︡ sistema (U.S.) --- Federal Reserve Board (U.S.) --- 338.22 <73> Economische organisatieleer. Economisch beleid. Economische politiek--Verenigde Staten van Amerika. VSA. USA --- 336.74 <73> Geld. Geldwezen. Monetaire sector.--Verenigde Staten van Amerika. VSA. USA --- 332.1120973 --- politique economique --- Centrale banken en parastatale kredietinstellingen: algemeen. Overheidsbemoeiïng inzake organisatie en verdeling van het krediet --- Algemeenheden. Theoretische en beschrijvende studies. Centrale banken --- Betrekkingen van de centrale banken met de kredietinstellingen --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- Board of Governors of the Federal Reserve System --- Monetary policy - United States. --- Business, Economy and Management --- Economics --- United States of America