Contents

Foreword Cathy E. Minehan

The Evolution of Monetary Policy and the Federal Reserve System Over the Past Thirty Years: An Overview Lynn Elaine Browne

Monetary Aggregates and Monetary Policy in the Twenty-First Century William Poole

Discussion Jerry L. Jordan Discussion Charles Freedman

The Role of Interest Rates in Federal Reserve Policymaking Benjamin M. Friedman

Discussion James S. Duesenberry

Discussion Stephen H. Axilrod

U.S. Monetary Policy in an Integrating World: 1960 to 2000 Richard N. Cooper and Jane Sneddon Little

Discussion Norman S. Fieleke

Discussion Robert Solomon

The Role of the Federal Reserve in the Payments System Paul M. Connolly and Robert W. Eisenmenger

Discussion Elliott C. McEntee

Some Thoughts on the Role of the Reserve Banks Gary H. Stern

Discussion Cathy E. Minehan

Dedication of the Auditorium

Remembrances of Frank E. Morris

About the Authors

Conference Participants