Does Money Still Matter for Monetary Policy?

Authors :: Haltom, Renee
Source :: Richmond Fed Economic Briefs; May2013, Vol. 13 Issue 5, p1-6, 6p
Publication Year :: 2013
Abstract: Economists agree that inflation is a monetary phenomenon, but since 1982, monetary policymakers have demoted measures of the money supply from prime targets to key indicators to incidental byproducts. With excess bank reserves at all-time highs, however, measures of money may have a renewed purpose as red fl ags for inflation. [ABSTRACT FROM AUTHOR]