Board of Governors of the Federal Reserve System

The Federal Open Market Committee (FOMC) modifies the authorization concerning

compared with September. Retail sales have moved up after being extremely...price reductions in an effort to boost sales, but many merchants feel

2The effective duration of a 30-year mortgage is much shorter than 30 ...3For example, the Mortgage Bankers Association estimates that mortgage

for. What other information is available? The Federal Reserve System conducts...key challenges for most firms. Cleveland Business activity was generally

and, to a lesser extent, utilities. Yesterday the price of gas for delivery...and, hence, the long-term marginal costs of new gas. Indeed, those costs

key stakeholders, including commercial banks, retailers, and law enforcement...key distinction between the single- cycle and multicycle budget approval

best used to assess the profitability of credit card activities by analyzing...and, at the time, these banks accounted for 28 percent of outstanding

prices. By engaging in a coupon swap, the Federal Reserve would effectively...key monetary policy tool. A few participants suggested selling MBS and

and, as a consequence, the United States at one time had more than 25,000...and, for the most part, do not contain monetary policy recommendations

T]he key challenge for future work is to develop a specification for the...best summarized by a mixture of purely transitory and passing shocks.