Board of Governors of the Federal Reserve System

the hands of fiscal, regulatory, trade, and monetary policymakers. Equally...for a new equilibrium. The economy's path depends in part on whether a

steam" in his area. In contrast, activity in the Carolinas remained robust...the dam can only hold back the water for so much longer." Agriculture

key factors driving the U.S. economy in recent years: the sharp rise in...and, presumably, consumption expenditure growth. The personal saving rate

and, consistent with the evidence, increases with infla- tion. Because...key determinant of this slope is the fraction of price changes, we use

key terms pertaining to the costs and risks of closed-end mortgages and...compares to the average rate offered to borrowers with excellent credit

Compared to a year ago, same-store sales gains for August ranged from ...best August in our history". Still, consumer confidence in the Middle

and/or longer-run targets. The other would make the funds rate the operating...compared to the current procedure, especially in view of institutional

key international insurance standard-setting initiatives, such as the ...and/or multilateral discussions and agreements (such as those which led

key challenges and public policy tradeoffs that we, as policymakers, should...and, most importantly, have different needs when it comes to financial

key personnel. Many employers are facing a shortage of ready replacements...compared with those hired pre-pandemic. That said, compensation expectations