Board of Governors of the Federal Reserve System

expectations?  Commercial real estate (CRE) markets are showing improvement...expectations that foreclosures would increase in the coming quarters,

invest ment, and State and local government purchases of goods and services...expectations of vigorous economic expansion, and uncertainty about the

invest ment was somewhat larger. It was still expected that the rise in...expectations were that residential construction outlays would decline

Policy Actions to Provide Additional Monetary Policy Accommodation Yesterday...policy actions to provide additional monetary policy accommodation. The

expectations." Neither Richmond nor Boston reported systematic inventory...policy should be continued until additional signs of strength appear.

policy during the sample period. As a stylized example, residents of Massachusetts...policy change could generate the effect of small-dollar credit access

policy. We heard scholarly views on the interplay between monetary policy...policy. We did not change the setting for our main policy tool, the target

policy rules to determine the federal funds rate path. In contrast, the...policy forecasts. For the sake of comparison, the tables include the June

policy actions taken by the Federal Open Market Committee at its meeting...expectations. In March, these aggregates appeared to be around the lower

policy actions taken by the Federal Open Market Committee at its meeting...surrounding the interpretation of the behavior of the monetary aggregates