Board of Governors of the Federal Reserve System

the decreases were widespread. Among durable consumer goods, the production...incorporated.The updating will include revisions to the monthly indicator

compares favorably with the national average of 3.8 percent of the loan

the volume of reserves, the discount rate, stock market margins, and a

price of 2/26/51 outstanding issues to decline to a point where rigid ...and minimize the use of bank credit. (The cost to the Treasury would be

A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington

Price Inflation Four-quarter percent change Q4/Q4 percent change Reported...Prices Relative to GDP Prices Ratio 1978 1983 1988 1993 1998 Orders for

and, beginning in May, to provide reserves needed for moderate bank credit...prices were back to the lows of the summer. A continued slack demand for

ther advance, while recognizing the bank credit growth of past year and...below-the December figure. In surveys of con sumer buying intentions the

and, beginning in May, to provide reserves needed for moderate bank credit...prices and also with respect to wage and price consequences in other indus

price stability. In my brief remarks today, I would like to mention another...and in that capacity I hope you will make the promotion of financial and