Skip to:
  1. Main navigation
  2. Main content
  3. Footer
Economic Commentary

Monetary Policy and the M2 Target

Download pdf

As 1989 comes to an end, the levels of nominal GNP and the M2 aggregate seem to be in balance, as M2 growth has slowed to a 4 to 5 percent range in the past three years. The Federal Reserve’s tentative target range for M2 growth in 1990 permits ample opportunity for the inflation rate to decline in the next few years.

12.01.1989ISSN 2163-3738 EC 12/1/1989

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 paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Black, Susan A., and William T. Gavin. 1989. “Monetary Policy and the M2 Target.” Federal Reserve Bank of Cleveland, Economic Commentary 12/1/1989.

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