Prior to the 1980s, the Federal Reserve could use targets for M1 and M2 to conduct monetary policy because

Name: Prior to the 1980s, the Federal Reserve could use targets for M1 and M2 to conduct monetary policy because
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Before the 1980s, the Federal Reserve used M1 and M2 targets for monetary policy effectively because there was a relatively stable relationship between these money supply measures and inflation, allowing for predictable impacts on the economy.

Prior to the 1980s, the Federal Reserve Could Use Targets