Carlson, Mark A.; Wheelock, David C. - Federal Reserve Board (Board of Governors of the … - 2014
policy. The present paper examines the evolution of Federal Reserve monetary policy from the mid-1930s through the 1950s in …The 1950s are often pointed to as a decade in which the Federal Reserve operated a particularly successful monetary … expected inflation. The inability of the Fed to maintain a credible commitment to low interest rates in the face of increased …