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Economic Commentary

Monetary Policy and Real Economic Growth

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The media frequently take central banks to task for failing to encourage real economic growth. Usually, such criticisms center on the business cycle, with analysts calling for monetary ease when growth falls below its recent trend and, somewhat ironically, chiding policymakers for responding too quickly when growth rises above trend.

12.01.1996EC 12/1/1996

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Humpage, Owen F. 1996. “Monetary Policy and Real Economic Growth.” Federal Reserve Bank of Cleveland, Economic Commentary 12/1/1996.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International