Board of Governors of the Federal Reserve System

prices, and fostered an improvement in financial conditions more generally...compared with the accelerated pace of the late 1990s. Between 1973 and

key form of savings in no small part because of their trust in their safety...key source of credit creation. Our financial system depends on high-quality

best ensure our continued global competitiveness, we need to fashion economic...and U.S. export growth was very strong indeed. By 1997, the state had

best we can judge, have added about 1 percentage point to annual growth...and, thereby, have engendered major cost reductions and productivity advances

best we can judge, have added about 1 percentage point to annual growth...and, thereby, have engendered major cost reductions and productivity advances

key factor we have been contending with over the past 12 months is the...key concern right now is the trajectory for inflation. Separate from the

key regulatory stakeholders. Outreach: Providing MDIs information, guidance...key information on the PFP's website. As noted above, the congress

key factor in the strong productivity and growth that the United States...best.2 To illustrate, the upper panel of figure 1 shows a scatter plot

price of reserves--the federal funds rate--rather than the quantity of...key focus in implementing monetary policy. While reserve requirements

key financial developments of the 1990s was the emergence and rapid growth...and, in some cases, abusive lending practices. On a social level, one