Board of Governors of the Federal Reserve System

prices reaching $60 per barrel--the equivalent of more than twice that...and, hence, the long-term marginal costs of new oil and gas would have

prices such as long-term interest rates, equity prices, and the exchange...compared to the effects before 1980. Our analysis suggests that these

compared with preceding periods. Economic growth at a modest pace was ...prices rose in some areas compared with the previous reporting period

key role in offering products and services that allow banks to meet these

compared to a year ago. Most builders expect steady residential construction...compared with both a month ago and a year ago. Absorption of office space

key role in transmitting shocks abroad.1 Indeed, the past two decades ...key mechanism driving credit allocation across firms in such globalized

for example, as in the eurozone, Ecuador, and Panama), or a significant...key features stand out in our calibration. First, our calibrated model

prices—particularly for oil—and the FOMC's commitment to bringing inflation

compared to a year ago. Auto dealers expect sales to continue at their...prices were unchanged in November compared to October. Two-thirds of the

compared with the first quarter. Unseasonably mild winter conditions supported...compared with a 0.8 percent decline in the same period a year ago. The