from: http://woodrow.mpls.frb.fed.us/info/policy/#what Click Here: <A HREF="http://woodrow.mpls.frb.fed.us/info/policy/#what">United States Monetary Policy</A> ----- United States Monetary Policy Information on this page is divided into the following categories: What is monetary policy? Instruments of Monetary Policy Monetary Policy Indicators Federal Open Market Committee (FOMC) Monetary Policy Objectives Recent statements by FOMC voting members Resources for Teachers More Links What is monetary policy? Monetary policy is a central bank's actions to influence the availability and cost of money and credit, as a means of helping to promote national economic goals. * U.S. Monetary Policy: An Introduction, via FRB San Francisco * Monetary Policy and the Economy, via the Board of Governors [171K PDF] * The Strategy of Monetary Policy, remarks by Alan S. Blinder, then-vice chair of the Board of Governors of the Federal Reserve System, as printed in the Sept. 1995 issue of The Region magazine * The Strategy of Monetary Policy, remarks by Governor Laurence H. Meyer, March 16, 1998 * Formulating a Consistent Approach to Monetary Policy, 1995 Annual Report essay * Achieving Economic Stability: Lessons From the Crash of 1929, 1987 Annual Report essay The ultimate targets of monetary policy are specified in law as maximum employment, stable prices and moderate long-term interest rates. Instruments of Monetary Policy The Implementation of Monetary Policy, via the Board of Governors [171K PDF] * Open Market Operations Fedpoint 32: Open Market Operations, via FRB New York Understanding Open Market Operations, via FRB New York Federal Open Market Committee (FOMC) Shadow Open Market Committee (The Region magazine, June 1993) Open Market Operations during 1997, via FRB New York [2606K pdf] * Discount Window Discount Rate - current and historical Fedpoint 18: The Discount Window, brochure via FRB New York Fedpoint 30: Discount Rate, brochure via FRB New York Discount Window, brochure via FRB San Francisco * Reserve Requirements Components of the Reserves Market Current Reserve Requirements of Depository Institutions Fedpoint 45: Reserve Requirements brochure via FRB New York Monetary Policy Indicators Monetary Trends, monthly newsletter, via FRB St. Louis * Monetary and Credit Aggregates Money Stock, Liquid Assets, and Debt Measures (Statistical Release H.6), via the Board of Governors Aggregate Reserves of Depository Institutions and the Monetary Base (Statistical Release H.3), via the Board of Governors M1 - The sum of currency held by the public, plus travelers' checks, plus demand deposits, plus other checkable deposits (i.e., negotiable order of withdrawal [NOW] accounts, and automatic transfer service [ATS] accounts, and credit union share drafts.) M1 Money Stock - Not Seasonally Adjusted -- 1959 - present, via FRB St. Louis M1 Money Stock -- 1959 - present, via FRB St. Louis M2 - M1 plus savings accounts and small denomination time deposits, plus shares in money market mutual funds (other than those restricted to institutional investors), plus overnight Eurodollars and repurchase agreements. M2 Money Stock - Not Seasonally Adjusted -- 1959 - present, via FRB St. Louis M2 Money Stock -- 1959 - present, via FRB St. Louis M3 - M2 plus large-denomination time deposits at all depository institutions, large denomination term repurchase agreements, and shares in money market mutual funds restricted to institutional investors. M3 Money Stock - Not Seasonally Adjusted -- 1959 - present, via FRB St. Louis M3 Money Stock -- 1959 - present, via FRB St. Louis * Short- and Long-term Interest Rates Short-term Interest Rates Chart Selected Interest Rates (Statistical Release H.15), via the Board of Governors Fedpoint 15: Federal Funds brochure via FRB New York * Foreign Exchange Rates Trade Weighted Value of the Dollar Chart Foreign Exchange Rates (Statistical Release H.10), via the Board of Governors Foreign Exchange 12 Noon Rates, via FRB New York Foreign Exchange Volatility, via FRB New York Besides monetary policy, the economy is affected by such factors as government fiscal initiatives and unforeseen events. Federal Open Market Committee (FOMC) What is the Federal Open Market Committee? FOMC Meeting Dates FOMC Voting Members, via the Board of Governors FOMC minutes Come with Me to the FOMC Beige Book, Summary of commentary on current economic conditions prepared prior to each FOMC meeting, via the Board of Governors Beige Book/FOMC calendar Monetary Policy Objectives (Humphrey Hawkins Report) Monetary Policy Report to Congress Executive summaries from 1993 - present Recent statements by FOMC voting members Testimony of Federal Reserve Board officials, via the Board of Governors Speeches of Federal Reserve Board members, via the Board of Governors Speeches by William J. McDonough, FRB New York Speeches by Edward G. Boehne, FRB Philadelphia Speeches by Michael H. Moskow, FRB Chicago Speeches by Robert D. McTeer, Jr., FRB Dallas Speeches by Gary H. Stern, FRB Minneapolis Alternate Members Speeches by J. Alfred Broaddus, Jr., FRB Richmond Speeches by Jack Guynn, FRB Atlanta Speeches by Jerry L. Jordan, FRB Cleveland Speeches by Robert T. Parry, FRB San Francisco Resources for teachers FOMC Simulation, via FRB New York Monetary and Fiscal Policy Interactive Computer Simulations, via FRB San Francisco The Federal Reserve video, via FRB Kansas City More United States Monetary Policy Links Comments to Diane Wells ([EMAIL PROTECTED]) | What's New | Search | Home | Minneapolis Fed | Federal Reserve System | ----- Aloha, He'Ping, Om, Shalom, Salaam. Em Hotep, Peace Be, All My Relations. Omnia Bona Bonis, Adieu, Adios, Aloha. Amen. Roads End <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, misdirections and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. 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