Board of Governors of the Federal Reserve System

and, perhaps, their aversion to such risk. Equity prices weakened further...and, for some categories, turned up in nominal terms in 2002. Investment

policy report to the Congress Before the Committee on Financial Services...policy, the U.S. economy has gone through a period of considerable strain

and, to date, reluctant to ramp up significantly their hiring and spending...and, in many cases, to extract equity from their homes to pay down other

Policy Report to the Congress Before the Committee on Banking, Housing...and, as I noted earlier, the extreme business caution that followed from

and, in the announcement released at the conclusion of our May meeting...and, judging by the exceptionally low level of risk spreads in credit

Background on Dodd-Frank Act Stress Testing Supervisory Scenarios Supervisory...background on Dodd-Frank Act stress testing; details of the adverse and

and, consequently, the importance of international cooperation in safeguarding...and--for the first time internationally--compliance with a minimum leverage

Background on Dodd-Frank Act Stress Testing Supervisory Scenarios Supervisory...background on Dodd-Frank Act stress testing; details of the adverse and

policy decisions embedded in the formulaic approach to setting the interchange...And, there is merit in responding to changing conditions as the payments

policy to today's question-and-answer session and, of course, to my congressional...policy and, in particular, allowed the Fed to conduct policy according