Dr. Horan worked for 10 years on the Monetary Policy program at the Mercatus Center at George Mason University where he carried out both administrative and research responsibilities. He earned his PhD in economics at George Mason University.
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Monetary policy is the control of the money supply, interest rates, and credit to achieve macroeconomic goals, such as price stability. It is directed by the Federal Reserve, which influences the cost and availability of bank reserves, through open-market operations (purchasing and selling securities), adjustments to commercial bank reserve requirements, changes to the discount rate, and changes in the federal funds rate.
