Board of Governors of the Federal Reserve System

best sales growth in more than twenty-five years. However, inventories...steam, and sales of existing homes were very weak--contacts there say

the near collapse of a global financial system that many economists had...the Latin American debt crisis, the savings and loan crisis, the Asian

the 7 members of the Board of Governors and the 12 presidents of the Federal...best satisfy their individual interpretations of the Federal Reserve's

prices the ratio of home goods consumed to foreign goods consumed is higher...key long-term issue facing Japan is to maintain its high level of per

and so on), it may be prudent to adopt a more aggressive easing stance...slow—for example, Reinhart and Rogoff (2009) and IMF (2009). Page 3 of

compared with earlier this year. Wages are rising, and business contacts...best predictive power. In this world, no one asks why those variables

best used to assess the profitability of credit card 1 See Fair Credit...and, at the time, these banks accounted for 29 percent of outstanding

key functions to promote the effective operation of the U.S. economy and...prices in the U.S. economy; ■ promotes the stability of the financial

key respect: They were extremely disruptive to countless workers, businesses...and losses in wealth--that were unconnected to panics.5 In the Panic of

for example, if a respondent reported a wage on a current job and reported