Board of Governors of the Federal Reserve System

and/or retain workers. Upward wage pressures remained substantial but

concern about slower growth and worker layoffs contributed to a sharp ...and, in an effort to slow the growth of aggregate demand and thereby prevent

fiscal or monetary policy have tended to slow economic activity and raise...concern was that a so-called wage–price spiral would emerge, as may have

yields on Treasury securities increased substantially. Corporate credit...policy (figure 1.3). Figure 1.1. Nominal Treasury yields rose substantially

Treasury as fiscal agents of the United States, may be formed by any number...and, in particular small business and farming concerns; to stimulate competition

Treasury yields—is commonly regarded as the best signal of impending recessions...Treasury yields summarize almost all of the information in Treasury yields

concern about the prospects for the federal budget, especially over the...fiscal policy unsustainable. The likelihood of escalating unified budget

concern that the monetary restraint of the 1950s had led to unnecessarily...Policy is implemented through nominal and, implicitly, real short-term

Fiscal policy was also seen as currently contributing to economic growth...Treasury yields. Many participants anticipated that the economic expansion

Policy (OIP). FOIA professionals also attended FOIA training provided ...and/or recorded video coverage of events, including (1) open Board meetings