Thornton, Daniel L. (contributor) - 2008
Monetary Policy: Why Money Matters
and Interest Rates Don’t
Daniel L. Thornton
Working Paper 2008-011A … material) should be
cleared with the author or authors.
Monetary Policy: Why Money Matters
and Interest Rates Don …@stls.frb.org
April 2008
Abstract
Monetary policy is now conducted by targeting a very short-term interest
rate. The Fed and …