Board of Governors of the Federal Reserve System

months. Inventories expanded modestly last month, and retailers were generally...month, and builders expect them to remain high over the next three months

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Why Do We

month-by-month up to the present. A third problem in the CPS is inconsistency...history is similar to that for someone with UNU whose reported search

three-month CDs over the previous 14 days, rounded to the nearest 5 basis...three-month CDs over the previous 14 days, rounded to the nearest 5 basis

months, potential changes to its policy framework. Third, I will briefly...history. Nonetheless, both the U.S. economy—and, equally importantly,

month. Retail sales were robust, construction activity improved further...month, strongly above year-ago levels. All respondents expect sales to

black line) with the average predictions of each of the 4 models. Consistent

History and Forecasts 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012...History and Forecasts: Latent Variables 1985 1988 1991 1994 1997 2000

month, but signs of easing appear to be mounting. Retail sales and construction...month with fewer plants operating at high levels of capacity. The energy

month. He will have served on the Board from September 5, 2006, to August...months I completely changed the way briefings with senior management were