Board of Governors of the Federal Reserve System

FROM: Mr. Broida Enclosed is a staff memorandum, dated today and entitled...from the version that was distributed with the staff memorandum on the

from using one of the main tools policymakers have to limit large cyclical...from about 80 percent on average in the 1980s to 25 percent in 2007, which

from a year earlier. A high-end retailer with sales down 20 percent plans...from a surplus discount store with sales 12 percent above last year's

from a year earlier. A number of retail contacts say they are disappointed...from low double-digit decreases to high single-digit increases year-over-year

from some District manufacturers. Wages were more varied with services...from mid-April through the end of May. Despite strengthening revenues,

from last year. Spending remained strong at casual dining establishments...from earlier in the year, which moderated their expectations for 2001.

from high gasoline prices. Sales were generally higher than a year ago...from high gasoline prices. Manufacturing District manufacturing activity

from a year ago for the Thanksgiving weekend and most merchants expected...from a year earlier. Auto dealers reported that lighter floor traffic

from country banks to make loans to stock market speculators, in the process...from depository institutions with surpluses--whatever their size or location

buying Mega Millions, Powerball or scratch tickets? b. Did you participate...buy a home e. I can’t afford the down payment to buy a home f. I simply