Monetary policy development trends in the US federal reserve system

The article discusses the main stages and trends in the development of the monetary policy of the US Federal Reserve for the period from the 50s of the last century to the present. The methods and tools used by the Federal Reserve System in various periods of the American economy are analyzed. Particular attention is paid to the modification of the strategic and tactical goals of monetary policy. It is shown that in the conditions of the global financial crisis of 2008-2009 the classic monetary policy instruments previously used by Federal Reserve System did not give the desired result, as a result of which the Federal Reserve System developed a non-standard solution - a program of quantitative easing - the purchase of financial assets, which was called LSAP (Large-scale Asset Purchase). It is concluded that, in general, the economic situation in the US economy in recent years has remained favorable largely due to the fact that the Federal Reserve System is quickly adjusting its policy and constantly revising its forecast for basic economic growth rates.