@article{02d9a128159342f9a62bd4da7f4b66c1,
title = "Policy advice and policymaking at the federal reserve",
author = "Raymond Lombra and Michael Moran",
note = "Funding Information: The Financial Forecast As the nonfinancial forecastsa re being developeda nd the Greenbook is being prepared,o ther memberso f the staff are in the processo f develoying financial forecastsw hich link the near-term( two-month) growth rates of the monetary aggregatetso the Federal funds rate, and link the recent and pro-spectiveg rowth of the aggregatetso the longer-termm onetaryt argets10 . As in the preparationo f the Greenbook, the staff (supplementedb y staff frcm the New York Federal ReserveB ank) gatherst o analyzet hi: implications elf incoming data, to assessr ecent forecastinge rrors, and to develop specific financial forecasts,T he objectiveo f the forecastinge ffort is to produce severala lternativen ear-termc ourseso f action for consideration.b y the;F OMC. The staff reports its findings to the FOMC in a document ;;a?!ed“M onetary Aggregateds nd Money arket Con.ditions,” luebook, for short (because of its blue cover). The Bluebook also has two parts.T he first section reviewst he recent uast In particular,t he deviations( if any) of monetaryg rowth from the targets sehie d at the previous rnect~{\~a}~r e analyze hangesi n short-and long-term interest rates are summarized,n ote ~e~,o~meint so ther",
year = "1980",
doi = "10.1016/0167-2231(80)90036-6",
language = "English (US)",
volume = "13",
pages = "9--68",
journal = "Carnegie-Rochester Confer. Series on Public Policy",
issn = "0304-3932",
publisher = "Elsevier",
number = "C",
}