Board of Governors of the Federal Reserve System

price pressures, market participants concluded that while the U.S. economy...price reports, showing increases that were perceived as moderate, were

best- preserved paper copies, scanning those copies,1 and then making ...CD's outstanding. There was a spurt in CD issues by major money market

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

for, what was agreed with the Treasury, will be the last of the 90-day...and, in part, as a result of the increasing pressure on the Japanese banks

prices. Indeed, the FOMC had such benefits in mind when it adopted its...compensation—the extra remuneration investors receive for holding long-term

best- preserved paper copies, scanning those copies,1 and then making ...and oil prices weakened substantially in yesterday's trading. We now are

and, consequently, led to sharply higher sovereign borrowing costs--initially...key European policymakers. We are particularly focused on protecting U.S

best- preserved paper copies, scanning those copies,1 and then making ...and, where available, weekly averages of daily figures; amounts in millions

best- preserved paper copies, scanning those copies,1 and then making ...and, where available, weekly averages of daily figures; amounts in millions

best guess is that it will impose appreciable restraint on economic growth...Key Background Factors As noted above, our forecast incorporates a federal