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VOLUME
3, NUMBER 2, 2004
AUTHORS:
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Evan
F. Koenig
Vice President and Senior Economist, Federal Reserve Bank of Dallas
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TITLE:
Monetary
Policy Prospects (PDF)
ABSTRACT:
In this article Evan Koenig looks at measures of the Federal
Reserve’s policy stance and discusses why short-term interest rates will
almost certainly have to increase at some point. The article also examines
the historical relationship between Federal Reserve policy, inflation and
resource slack for insights on future rate changes. Koenig concludes that
a wide range of policy outcomes are plausible over the next two years,
depending on the strength of the recovery, the economy’s growth potential,
and the sustainable unemployment rate—variables that economists
can’t, unfortunately, estimate with much confidence.
SUGGESTED
CITATION:
Koenig, Evan F. (2004), “Monetary Policy Prospects,”
Federal Reserve Bank of Dallas Economic and Financial Policy Review,
Vol. 3, No. 2, http://dallasfed.org/research/efprpdfs/v03_n02_a01.pdf.
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