Board of Governors of the Federal Reserve System

2 percent in the near term but to stabilize around the Committee’s 2 percent...2 p.m. EDT June 14, 2017 - 2 - relative to its objectives of maximum employment

2 Industrial production 2007.75 2008.5 2009.25 2010 −7 −6 −5 −4 −3 −2 ...2 3 Greenbook forecast (green dots), SPF forecast (red dots), and data

2 of 28 Table of Contents I. Introduction and Executive Summary ..........2 Under the 165(d) Rule, 1 The loan-to-deposit ratio is calculated as

.2 But if the Committee decided that a further expansion of the SOMA portfolio...2 This general characterization also applies to the current program to

.2 For this reason, empirically identifying the consequences of maturity...2Papers that make this comparison, such as Goyal and Wang (2013) and Gopalan

2 way to isolate the effect of a low(-for-long) interest rate through ...2) there is an adverse effect that is materially larger when interest

2.7 percent in 2004 to 2.9 percent in 2007; the increase was driven, in...2.59 people in 2004 to 2.61 in 2007. Only a small fraction of the 2007

2. Economic and financial situation. A. Chart show. B. Committee discussion

.2 After that, we review some of the key properties of these prediction...2 This discussion updates and extends the overview provided by Reifschneider

2 - monitoring of financial institutions and of building risks to the ....2 In this environment, central banks cannot take our measure of independence