Board of Governors of the Federal Reserve System

remain well below the monthly average for 1972. On December 27 the Treasury...yield 6.79 per cent. The Treasury was expected to announce on January

lower energy prices, and the airline industry continued to suffer from...lower for machine tools, metals, textiles, telecommunications and most

remain at high levels. However, much concern was expressed over the obstacles...lower sales and orders. Again, however, orders for industrial supplies

stable rate. There had been adjustments of rates throughout the markets...moving was desirable and in line with the major objective. Mr. Mangels

remained unchanged again during the past three weeks. The Stabilization...remained out of the market. In the exchange markets, Mr. Sanford reported

Treasury maturities were about $1.3 billion lower than at the start of...yields rose about 20 to 50 basis points over the period, while yields

Treasury and many federal agencies, but a discussion of such payments ...remaining 39.6 percent of all accounts (and 23.9 percent of all balances

remain. Please note that some material may have been redacted from this...moving toward the 9½ per cent top of its range. However, by that time

remained strong, and, in contrast to the weak payroll figures, they have...moving average Changes in Private Payroll Employment 1997 1998 1999 2000

lower costs of financing new equipment and structures, businesses may ...lower bound for the federal funds rate because investors could simply