Board of Governors of the Federal Reserve System

investors, could encourage excessive risk-taking. There doubtless is some...expectations of broad bailouts have turned out to have been disappointed

policy over the intermeeting period ahead. A summary of the economic and...policy directive that was approved by the Committee and issued to the

policy objectives in the long run.1 With inflation expectations stable...policy support was warranted. The Federal Reserve's policy target for

expectations--as measured by surveys and by comparing yields on nominal...expectations will remain low only so long as the Federal Reserve demonstrates

policy is whimsical. On the contrary, good policy should be systematic...policy and thereby helps to pin down inflation expectations. In principle

messages. Indeed, he offered to sell his telephone patent to Western Union...messages, such as ship-to-ship, where communication by wire was infeasible

messages. Indeed, he offered to sell his telephone patent to Western Union...messages, such as ship-to-ship, where communication by wire was infeasible

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message is that, after the 1980s debt crisis, many Latin American countries...invest, and direct foreign investment was weak as well. These problems

policy accommodation in the wake of elevated inflation readings. This