What does the change in the FOMC's statement of objectives mean?

In contrast, most economists believe that central banks have little or no ability to directly affect employment. The effect of monetary policy actions on employment is indirect and stems from central banks’ ability to affect output growth in the short run and achieve price stability in the long run.

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Year of publication:	2011
Authors:	Thornton, Daniel L.
Published in:	Economic Synopses. - Federal Reserve Bank of St. Louis. - 2011, 1
Publisher:	Federal Reserve Bank of St. Louis
Subject:	Federal Open Market Committee \| Monetary policy \| Employment

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

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