Board of Governors of the Federal Reserve System

key pillar of the secular stagnation hypothesis, which Larry Summers has...And, third--and perhaps most troubling--a low equilibrium rate sends a

prices the ratio of home goods consumed to foreign goods consumed is higher...key long-term issue facing Japan is to maintain its high level of per

best tools I ever found for teaching adults was a simulation exercise....the Blob" that I saw years ago in an old movie. Like the Blob, panic attacked

key functions to maintain the integrity of the U.S. payment and settlement...expenses—and the return on equity (profit) that would have been earned

best when it serves as a backstop to risk- based capital requirements....market—and instead pursue higher-risk activities in search of higher returns

key mechanism is the bank lending channel: when the federal funds rate...compared to banks with lower monetary policy exposure. A back-of-the-envelope

best unnecessary. At worst, the introduction of government regulation ...and is almost sure to be suboptimal--if applied to a market in which large

key financial services to households and small businesses, with geographic...best and worst firms; consistent over time and with competitive conditions

best when the resulting credit instruments are less complex and opaque...pricing reinforces incentives for originators to perform careful underwriting

compared with the first half, and virtually none plan to reduce their ...key destination states such as Hawaii, California, and Arizona, with further