Marvin Goodfriend

Marvin Goodfriend

Classifying Federal Reserve crisis-era interventions into monetary policy, credit policy, and interest-on-reserves policy, Goodfriend argues that only "Treasuries only" monetary policy is fiscally …

Marvin Goodfriend

Using the 30-year bond rate as a real-time signal of the public's long-run inflation expectations, this narrative study of Fed federal funds rate policy from 1979 to 1992 argues that the central …

Marvin Goodfriend

Dividing 1987-2001 into six phases -- the post-crash inflation of 1987-90, the Gulf War disinflation, the celebrated 1994-95 preemptive tightening, the near-full-credibility long boom, the 1999-2000 …