Board of Governors of the Federal Reserve System

lowered the federal funds rate to 1-3/4 percent, the lowest level in forty...Treasury Two-year Treasury Discount rate NOTE. The data are daily and

lowered prices for gasoline, heating oil, and other energy products. But...stable, my colleagues on the Federal Open Market Committee (FOMC) and

remained at or below 5 basis points, the ten-year government yield has...yield spread is rePa ve to the seven-year Treasury yield BBB corporate

remained the key problem of 5/10/66 -5- price and wage stabilization, ...remained under pressure. Both central banks con- cerned seemed determined

lower bound (ELB) constraint on nominal interest rates by solving a series...Lower-for-longer policies— while effective in stimulating the economy

Treasury. FOR FOMC FILES S. Belton Authorized for public release by the...Treasury. Altmann Authorized for public release by the FOMC Secretariat

remain at that level. For the first third of the period, the Desk was ...Treasury issues were slightly lower in yield. The markets focused on a

lower grades of paper, forcing buyers to pay for higher grades of paper...Treasury. SECOND DISTRICT — NEW YORK The second district directors that

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lower levels of consumer borrowing. The net effect of increased student