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William J. McDonough, President, Federal Reserve Bank of New York, provides his views on the conduct of monetary policy in conjunction with the semiannual report to the Congress under the Humphrey-Hawkins Act and says that the longer-run purpose of today's policy actions should be to lay the foundation for price stability and sound economic growth over the coming decade, before the House Committee ...

McDonough, William J. - In: Federal reserve bulletin 83 (1997) 9, pp. 758-759

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