Board of Governors of the Federal Reserve System

2. Authorization for Foreign Currency Operations, as reaffirmed February...2) arise out of the storage within the United States of goods under contract

2. Authorization for Foreign Currency Operations, as reaffirmed February...2) arise out of the storage within the United States of goods under contract

2 1. Introduction A Central Bank Digital Currency (CBDC) is a form of ....2 A CBDC could alter the financial and payments ecosystem in far-reaching

2 2013). Although there is evidence to suggest that property income measures....2 Our findings are consistent with tradeoff theories of optimal leverage

2-1/2 percent rate in the first quarter, as sizable increases in spending...persons2 2.6 2.0 1.1 5.5 8.4 All employees 2.3 2.0 1.2 5.8 7.3 Nonfinancial

2.1 34.2 40.7 -4.1 34.1 40.5 -0.5 34.2 40.8 -0.1 34.2 41.0 Note. Average...67.2 66.9 66.9 66.5 66.6 66.8 66.8 Teenagers 52.2 49.9 49.1 48.2 48.9

2 -11 3 2 Services 92 -2 27 64 68 62 50 Help supply services -0 -54 4 ...1'2 1.1 -2.1 -0.5 0.2 0.0 0.3 -0.6 Average workweek (hours)' 34.4 34.2

Q2 Nonfarm businesses All persons2 3.0 2.1 1.9 2.1 7.3 8.6 1.73 All employees...2.4 1.7 2.0 2.0 7.6 7.3 1.63 Nonfinancial corporations4 1.8 1.8 3.3 3.2

supply2 61.1 56.1 n.a. 53.9 49.3 62.5 n.a. Inventories3 2.61 2.61 n.a....2.57 2.47 2.61 n.a. Note. Components may not sum to totals because of

3.2 3.4 2.3 4.1 3.2 -0.4 0.1 0.7 Previous1,3 2.9 3.0 1.6 4.5 4.8 -0.7 ...35.2 35 34.8 34.6 34.4 34.2 34 33.8 1993 1994 1995 1996 1997 1998 II-3