Board of Governors of the Federal Reserve System

99.4 99.3 99.6 | 100.8 98.7 100.1 100.8 102.2 102.7 Nondurable | 498.4...98.4 100.2 99.8 Industrial generation | 70.4 | 101.6 103.1 100.1 100.6

4:28 PM ET 1 Introduction The Phillips curve has long been a workhorse...to-estimate variables” (Tarullo (2017), p.2). Governor Tarullo’s quote

99.5 100.2 98.0 92.4 68.4 | 99.0 99.8 100.1 97.1 92.3 69.0 Textile and...96.4 96.9 99.3 100.1 97.8 85.6 | 97.6 91.8 84.3 99.7 109.5 79.9 Reconstituted

99.4 99.6 98.0 99.9 99.1 | 90.1 91.8 94.8 98.7 101.6 104.5 Coal mining...99.7 97.7 97.9 97.3 99.0 99.5 | 100.3 99.7 99.2 98.0 96.1 99.8 Pape

.4 Since their work, a number of researchers have suggested that "sticky

99.5 99.9 100.4 102.9 102.8 | 94.9 99.1 99.5 99.8 102.6 103.6 Crude oil...99.4 97.2 97.4 98.3 97.6 | 105.3 100.2 85.6 92.1 99.3 97.9 Beverage |

99.0 100.8 | 97.2 99.2 98.6 99.9 100.4 97.9 Basic chemicals 281 | 78.9...99.7 97.4 97.1 | 100.5 101.7 99.3 99.1 97.8 96.2 Basic steel and mill

Beige Book - October 19, 2016 Full Report Summary Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City

99.4 99.6 98.0 99.9 99.1 | 90.1 91.8 94.8 98.7 101.6 104.5 Coal mining...99.7 97.7 97.9 97.3 99.0 99.5 | 100.3 99.7 99.2 98.0 96.1 99.8 Pape

99.9 99.9 100.8 | 96.2 103.5 102.6 102.9 100.4 103.9 Iron ore mining |...99.8 102.3 100.4 102.9 | 99.3 90.4 98.5 102.2 111.1 Miscellaneous meats