Board of Governors of the Federal Reserve System

Prefatory Note The attached document represents the most complete and accurate version available based on original files from the FOMC Secretariat

responses to the survey will not be shared with the public or the industry...response. If you have included additional affiliates in your response,

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pre-crisis levels, including a broader measure of labor market underutilization...crisis, has now been roughly stable for 3-1/2 years, which represents

response to the August FOMC statement, which indicated that the Committee...response to the FOMC statement. Additional evidence on the change in investors

crisis. At present, however, the policy rate is at the effective lower...response to shocks—that could be important for inflation and unemployment

response to global shocks. For example, countries within a region may

response to trade shocks. We build and estimate a general equilibrium,...response to different sets of shocks to the response of the same model

response to data pointing to a robust economy but retraced part of that...responses to the Desk’s surveys, that the Committee would raise the target

crisis and deep recession. In these circumstances, the Federal Open Market...post‐crisis forward guidance and asset purchases on expectations for the