Board of Governors of the Federal Reserve System

Annual Performance Report 2015 April 2016 B O A R D O F G O V E R N O R S O F T H E F E D E R A L R E S E R V E S Y S T E M Annual Performance

economic recovery. Nominal interest rates then stayed persistently low...economic fundamentals that raise real desired savings or lower desired

projections, and therefore undue reliance should not be placed on them...summary The resolution strategy for HSH NY in the event of its failure

Economic Analysis Conference, 22nd international conference of the Society...Economic Tendency Surveys Conference, 2016 Melbourne Institute Macroeconomic

projections or business prospects identify forward- looking statements...Summary of financial information regarding assets, liabilities, capital

Summary (1) Measures of financial market stress intensified on net over...economic growth, and a substantial fall in oil prices led investors to

projections showing strong continuing increases for inventory and capital...economic conditions warrant. The cost effect is not likely to be so large

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Economic Association (AEA), working at the U.S. Treasury and the White

Summary .................................................................economic conditions consistent with the Dodd-Frank Act Stress Test (“DFAST