Fixing the "Curriculum Lag" in Economics: The New Tools the Fed Is Using to Influence the Economy

Autor/inn/en	Ihrig, Jane; Wolla, Scott
Titel	Fixing the "Curriculum Lag" in Economics: The New Tools the Fed Is Using to Influence the Economy
Quelle	In: Social Education, 84 (2020) 2, S.93-99 (7 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0037-7724
Schlagwörter	Public Agencies; Federal Government; Economic Climate; Employment; Public Policy; Credit (Finance); Guidelines; Economics Education; Money Management; Curriculum Development; Teaching Methods; Labor Market; Financial Exigency; Economic Factors; High School Students + Suchen Sie Ihr Suchwort? Öffentliche Einrichtung; Bundesregierung; Wirtschaftslage; Dienstverhältnis; Öffentliche Ordnung; Credit; Kredit; Richtlinien; Wirtschaftskunde; Curriculum; Development; Curriculumentwicklung; Lehrplan; Entwicklung; Teaching method; Lehrmethode; Unterrichtsmethode; Labour market; Arbeitsmarkt; Finanzielle Härte; Ökonomischer Faktor; High school; High schools; Student; Students; Oberschule; Schüler; Schülerin; Studentin
Abstract	The Federal Reserve (the Fed) is the central bank of the United States. It has a congressional mandate to promote maximum sustainable employment and price stability. In normal times, the Fed seeks to achieve this mandate by setting the position or "stance" of monetary policy, primarily by managing the level of short-term interest rates. While the mandated goals were articulated in 1977, the approach and tools (i.e., "regime") used to implement policy have changed over time. Before the financial crisis, the Fed implemented policy with "limited" reserves and relied on open market operations as its key tool. Today, the Fed implements policy with "ample" reserves and relies on interest on reserves, and in particular interest on excess reserves, as its principal tool. This article is intended as a summary of the Fed's current monetary policy framework to address the "curriculum lag." This information is essential for economics and government teachers, or anyone who teaches about economic policy and the Federal Reserve. It will also help educators and students to better follow monetary policy discussions in the financial news. (ERIC).
Anmerkungen	National Council for the Social Studies. 8555 Sixteenth Street #500, Silver Spring, MD 20910. Tel: 800-683-0812; Tel: 301-588-1800; Fax: 301-588-2049; e-mail: membership@ncss.org; Web site: http://www.socialstudies.org
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01