Board of Governors of the Federal Reserve System

concern for policymakers. This market is one where a large number of borrowers...distress—and the associated downward pressure on prices—to cause a tightening

Policy concerns about redlining have been long standing. Believed to have...concerns that deposits col- lected in lower-income neighborhoods by commercial

and seasonal) borrowing at the discount window implied by the reserve ...policy have placed upward pressure on Treasury yields in particular. Private

policy. ³ Attended portion of meeting related to the economic outlook....and, as is customary, I will turn the floor over to Governor Ferguson.

fiscal years 1987 and 1988.............. 18 Receipts during tax filing...Treasury and sponsored agency financing........................... 11

fiscal year (source: BayernLB 2021 Annual Report and Accounts) P a g e

Treasury yield has been little changed, on net, in recent weeks; we continue...Treasury yields as in the previous forecast. Yields on BBB-rated corporate

yields a history of identifed structural shocks, which we apply to illuminate...Yield corporate bond and Asset-backed security spreads, where the weight

gold collateral loan from West Germany in 1975. In addition, the Swiss...gold collateral loan and the BIS had agreed to a $250 million direct swap

fiscal and monetary policy. JEL Classifications: F31, F41, E30, E01, C81...fiscal and monetary policy and for the desirability of a fast exit from