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St. Louis Fed's Bullard Discusses "One Equation to Understand the Current Monetary Policy Debate"
Federal Reserve Bank of St. Louis President James Bullard discussed “One Equation to Understand the Current Monetary Policy Debate” on Monday at the fall conference of the Association for University Business and Economic Research (AUBER). Bullard noted that the Federal Open Market Committee (FOMC) operates by setting a short-term nominal interest rate (i.e., the federal funds rate target), which is also referred to as the policy rate. “The current policy rate setting is just 38 basis points, extraordinarily low by postwar historical standards. The FOMC is considering raising the policy rate to a somewhat higher ... (full story)