Monday, March 06, 2006

Fed to end release of M3 Monetary Aggregates

On March 23 the Federal Reserve will discontinue release of the M3 monetary aggregate which included measures of eurodollar deposits, repurchase agreements and certificate of deposit accounts over $100,000. In announcing this change, The Dismal Scientist pointed out that Central Banks in recent years have favored targeting interest rates rather than money supply measures.

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