Board of Governors of the Federal Reserve System

remain at its effective lower bound even if the unemployment rate had ...remain at its effective lower bound even if the unemployment rate is below

remained slightly above potential in that period, but an output gap of...remain more muted than one would expect on the basis of output gap estimates

remain. Please note that this document may contain occasional gaps in ...Treasury and sponsored agency financing........................ 9 ii DOMESTIC

stable. The labor market has continued steady and generally strong, with...remain a little above a year ago. Reflecting smaller overtime, average

remained weak so far this year. Labor market conditions had deteriorated...remained elevated. Labor demand continued to weaken in March. Private

or a union representing them) get to reset their (nominal) wage with probability

Treasury securities) permitted under relevant agreements had increased...remaining counterparty types included in the survey, and discussed in

remained well supplied with gold and no reduc tions in the Treasury gold...or--if there was a firm indication from the French that they wanted to

remain. Please note that some material may have been redacted from this...or perhaps a little more after the forthcoming revision) in the third

remain. Please note that some material may have been redacted from this...remained I-2 far above the levels of a year earlier. Seasonal employment