Board of Governors of the Federal Reserve System

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and, at the same time, plays an important role in the conduct of monetary...and, as indicated at the beginning of this note, most recently in the

prices in January was a reminder that ongoing progress on inflation is...And, with most data indicating solid economic fundamentals, the risk of

prices have restored profits to cattle feeders. Labor markets remained...prices. Wages and Prices Labor markets were still tight last month, and

price stability have fostered clearer price signals, more efficient resource...prices of oil and other imports. These declines reduced both the prices

prices remained elevated relative to its pace one year earlier. Employment...prices and slowing house price appreciation pointed to a modest reduction

and in some cases increasing--softness in certain industries due to the...the number of sources expressing concern about the near future is striking

And, third, other liabilities, which are mainly associated with the mechanics

Prices and Costs On balance, nonwage price pressures eased a bit, while...Prices for hot rolled and scrap steel declined, and wallboard prices also

prices. In the farm economy, the winter wheat crop remained in good condition...prices continued to edge up, as did prices for construction materials,