The Fed Changes Its Horse

October 1979
National Review;10/26/1979, Vol. 31 Issue 43, p1344
The article reports on the United States Federal Reserve Board's announcement that it will control bank reserves and let the market determine interest rates. According to the author, the decision will allow the Fed to have control over the money supply which will result in an inflation decline. The author adds that a decline in inflation will result in interest rates decline.


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