Board of Governors of the Federal Reserve System

KEY WORDS: Bayesian Analysis, DSGE Models, Nonlinear Filtering, Monte ...key challenge. The contribution of this paper is to propose a self-tuning

prices, inflation has remained tame and appears likely to run at or below...price stability. In assessing the extent of progress, the Committee will

and, in contrast to Europe, Japan was not yet showing signs of acceleration...the Japanese were contemplating only an experimental program, involving

and revisions to earlier years are negligible. Annual capacity growth ...Compared with previous estimates, overall capacity growth is roughly unchanged

and revisions to earlier years are negligible. Annual capacity growth ...Compared with previous estimates, overall capacity growth is roughly unchanged

Over-the-Counter Derivatives Optional Question Special Questions Summary...Over-the-Counter Derivatives Securities Financing Special Questions The

prices in the manufacturing sector and prices of manufactured goods rose...the man on the street" had brightened. A commercial and residential landscaper

Price growth remained subdued in the retail and services sectors, while...price declines were reported in a number of manufacturing industries.

Price inflation remains limited. Contacts are unanimous in saying that...prices are generally holding steady. By exception, one sector is raising

and, accordingly, firms continue to attempt to raise their prices--many...prices were mixed. For firms that attempted to increase some product prices