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February 1986

Posted 1986-02-01

The FOMC in 1985: Reacting to Declining M1 Velocity

by R. W. Hafer

R. W. Hafer discusses the issues that influenced the policy decisions made by the Federal Open Market Committee (FOMC) last year. Hafer notes that policy decisions were influenced by the unpredicted decline in M1 velocity.

Posted 1986-02-01

Requiem for Regulation Q: What It Did and Why It Passed Away

by R. Alton Gilbert

R. Alton Gilbert examines the effects of Regulation Q over the 53 years it was in effect. He concludes that, throughout its history, Regulation Q policy did not achieve the results intended for it.