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Monetary Policy and the Great Inflation in the United States: The Federal Reserve and the Failure of Macroeconomic Policy, 1965-1979 Hardcover – March 1, 1999

ISBN-13: 978-1858989532 ISBN-10: 1858989531

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Editorial Reviews


His [the author's] research shows both how easily monetary policy can be led astray by dubious economic theories, and how difficult it is to change direction once a policy has been established...This book contains much information and insight about Federal Reserve policymaking and,...I recommend it to readers intereste in the macroeconomic history of the 1970s or the history of Federal Reserve policymaking in general. -- David C. Wheelock, The Journal of Economic History

Mayer has filled a considerable gap in our knowledge with this path-breaking study...No one in future should write on this topic without consulting it. -- David Laidler, Economic Record

Monetary Policy and the Great Inflation in the United States is a very enlightening description of how monetary policy lead to the Great Inflation. Professor Mayer displays his typically thorough analytical skills and clear writing style while describing a wealth of source level evidence regarding the thought process of monetary policymakers. -- Stephen J. Perez, EH.NET

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Emeritus Professor of Economics, University of California, Davis

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