Board of Governors of the Federal Reserve System

yield sellers positive profits.1 Our results imply that any closed subset...lowers the demand for real balances. Instead, in our model, inflation

yields, but in the household sector, debt growth appears to have picked...Treasury's mid-quarter auctions. How- ever, market sentiment remained

lower oil prices on capital spending, - 3 - should diminish over time....remained stable. The Committee will continue to monitor inflation developments

Treasury Deming, had traveled to Europe. Between them, the two missions...Treasury gold stock would remain unchanged this week. 1/9/68 -7 About

Treasury Constantine Yannelis Department of Finance, NYU Stern School ...treasury.gov, and constantine.yannelis@stern.nyu.edu. The authors thank

Treasury operations in foreign currencies for the period October 19 through...remained far below earlier levels. Beneath the surface impression of orderly

yields on 10-year Treasury issues falling to the lowest level in 3 years...lowered prime rate should also tend to divert credit demands from banks

remain, which are statutorily mandated for certain categories of institutions...remaining technical differences among the capital standards of the agencies

or, in the case of maturing securities, by direct exchange with the Treasury...yields al though rates on Treasury bills had declined, reflecting an easing

remain at or below lower ends of ranges adopted, to provide reserves at...stable at about their prevailing levels if the reduction in the funds