Monetary Policy in 1969

John H. Kareken

JHK

John H. Kareken University of minnesota

NOTHING HELD THE ATTENTION of forecasters in 1969 more than Federal
Reserve policy and the behavior of money and credit markets. And
perhaps nothing surprised forecasters more than the behavior of the monetary
and credit aggregates last year. It may be useful to review the formulation
of Federal Reserve policy during 1969 against the background of
the money and credit conditions that developed from it.