Board of Governors of the Federal Reserve System

Treasury-Federal Reserve program of Government security market statistics...concern, to many bankers here and abroad, and it is a phenomenon to which

policy................................. 0 ........ 19 TABLES: Borrowing...and, as a result, are still placing significant upward pressure on prices

treasury checks 0.1 0.14 2,413 0.1 0.15 2,784 0.1 0.27 2,084 -3.7 1.0

Fiscal Surplus ..........................................................policy analysis, and, ultimately, forecasting. I also, unexpectedly, enjoyed

fiscal year for the Federal budget that was provided for under recent ...and also the short-run- targets in the directive itself. Chairman Burns

gold from the gold pool operations in August. The only September order...Treasury and System account--$100 million for Treasury account and $40

fiscal year about to begin will show little or no deficit. Short-term ...Yields on medium-term Govern ment securities rose further to new high

fiscal year expenditures, only a modest further rise in Federal outlays...and, with auto production scheduled at a new high for the year, industrial

policy. 26 Economic Recovery • Aided by the effects of monetary and fiscal...Concerns about European fiscal and banking conditions have also stressed

policies to help alleviate the economic burden. Since the pandemic’s onset...yields designed to promote private market participation—that is, they