Fed working paper analyses indecision over economic shift in 1990s

st-louis-fed

Federal Reserve Bank of St Louis working paper investigates the process via which the Federal Open Market Committee (FOMC) came to recognise, and react to, the productivity acceleration of the 1990s.

Richard Anderson and Kevin Kliesen study evidence from the economy era between 1994 and 2001 to answer the question, how does the FOMC learn about economic revolutions?

Initial impressions were formed importantly by anecdotal evidence, the researchers find. "Then, policymakers – chiefly Alan

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