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Business Cycle Dating; Purposes of the Fed
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A 12 page paper in two sections. The first discusses how National Bureau of Economic Research determines the presence of recession and dates when it begins and ends. The second section discusses the structure and function of the Federal Reserve, focusing on the action of the Federal Open Market Committee (FOMC) that meets quarterly to determine whether it will change interest rates. The action of the Fed seeks to place a glove over Adam Smith's "invisible hand," not seeking to change the action of that hand but only soften the effects of its movement. It directly contributes to the stability of the nation's economy and by extension to the nation itself. Bibliography lists 4 sources.
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Pages:
12
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Filename:CC6_KSecMacBizCyFed.rtf |
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Paper Title:
Business Cycle Dating; Purposes of the Fed
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