Board of Governors of the Federal Reserve System

and, I should add, our supervisory--policies both for their intended purposes...price that risk accordingly. Supervisors using such techniques--leveraging

best in the years to come. Thank you. [Sustained applause] And now let...prices of U.S. equities—which market participants have attributed to the

best thinking across the Federal Reserve System, spanning key areas of...the rails), protection against assets being transferred twice (the so-called

and, after that, allowing the average level of reserves to decline slowly

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

compared with 1.27 percent for the industry as a whole. By late 2003, ...key factor in managing credit concentrations and, indeed, a striking attribute

key intermediate inputs, as is generally expected, but there is a risk...standards—and the Federal Open Market Committee's most recent Summary

best policies to deliver stable prices while maintaining a solid labor...The Inflationary Effects of Sectoral

prices. However, gas prices haven't had a noticeable effect on traffic...best March ever, while dealers in the western part of the state noted

best holiday sales ever, according to an economic development official...prices and low feed prices are boosting rancher income. The U.S. Department