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Shadow Open Market Committee

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Shadow Open Market Committee
An organization that meets bi-annually to evaluate and critique the policies of the Federal Reserve, as well as to discuss macroeconomics generally. The SOMC consists of various monetarist economists from academia and the private sector. It is frequently critical of the Federal Reserve, blaming it for both recessions and inflation throughout the 1970s and 1980s. It is not widely thought to have much influence on the policies the Fed actually adopts. See also: Federal Open Market Committee.


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At the twice-annual meeting held in Washington on Sunday and Monday, the six-member Shadow Open Market Committee welcomed the recent series of measures by the Bank of Japan and the Finance Ministry to increase money growth despite a depreciation of the yen against the U.
In a September paper for the Shadow Open Market Committee, a group of monetarist-oriented Federal Reserve watchers, Levy notes that progress in reducing the deficit has been largely "illusory" because the basic structural problems with the budget remain intact.
30, 1999-- Simon School Dean Offers Compelling Evidence Suggesting the Promise of a New Productivity Boom Remains in the Future At the Shadow Open Market Committee Meeting in Washington, D.
 
 
 
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