Board of Governors of the Federal Reserve System

Prices Almost all Districts saw modest price increases since the last ...compared with a year earlier, while travel and hospitality remained well

compared to increases in previous years as noted in the MD-715 for 2007...and/or promotions for key positions. In 2012, the Board filled 427 positions

prices on average once every 1.8 quarters. The key feature of our model...prices on average once every 9 quarters. We argue that the micro implications

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Key Entities 5 Key Functions Conducting the nation’s monetary policy Helping...the-fed-explained.htm and on the Board’s website at https://www.federalreserve.gov

key features: • A New-Keynesian structure for price and wage dynamics....and, hence, price pressures as in Gali (2011). • Production of goods and

best. While activity at consulting and advertising firms seems to be leveling...and/or frozen employee pay, and/or have enacted temporary shutdowns or

the most important benefit and one not usually emphasized--globalization...best-selling book Globalization and its Discontents, Nobel laureate Joseph

compared with late summer and early fall. Atlanta described retail sales...compared with the same month last year and compared with the sales rate

price level this past year was smaller than that in the previous year,...price index for GDP rose slightly less than 1 percent. The further slowing