Board of Governors of the Federal Reserve System

and, like Chairman Bernanke, expressed my hope that more research would...for instance, the composition and level of local employment, schools,

for us to be much more explicit about our operating targets. The second...keyed at least semi-automatically to changes in reserves or monetary aggregates

prices has been exceptionally rapid. On June 13 the President announced...CD's and the remaining Regulation Q ceilings on such CD's were suspended

best- preserved paper copies, scanning those copies,1 and then making ...CD's. (5) Net borrowed reserves at member banks during the past three

compared with 8 percent earlier. The easing move on October 29 followed...prices up and bond prices down. But the Congress did eventually cobble

them—and the interplay between these different ways to think about incentives...prices, thus offering a potential explanation for the flattening of the

The authors would like to thank Gianni Amisano, Giovanni Favara, Kathryn

off-the-run Treasury yield curve. Mar. FOMC 1994 1996 1998 2000 2002 2004...Compared to the levels prevailing earlier in March, both the 5-year and

compared to a year ago, but some are recording substantial declines. Most...compared to a year ago. Only pharmaceutical sales are said to be rising

safety-and-soundness expectations and Community Reinvestment Act (CRA)...key risk areas in their residential mortgage lending, including loan terms