Energy, Monetary Policy, and the Business Cycle
With the economy moving toward recovery, price pressures will eventually build, and the Federal Open Market Committee will need to focus more keenly on price stability. Threading policy between recovery and price stability will be especially difficult if oil prices remain high and volatile.
Suggested citation: "Energy, Monetary Policy, and the Business Cycle," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-08, pp. 09, 08.01.2002.