Conduct of Monetary Policy: Report of the Federal Reserve Board Pursuant to the Full Employment and Balanced Growth Act of 1978, P.L. 95-523, and the State of the Economy : Hearing Before the Subcommittee on Domestic and International Monetary Policy of the Committee on Banking and Financial Services, U.S. House of Representatives, One Hundred Fifth Congress, Second Session, July 22, 1998, Volume 4 |
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Page 2
... expected . I think the counterpoint to all this , and some of this is set forth , I have a story from U.S. News and World Report , " Will Japan Trip the Bull ? " , the highlights that you talked about , half your testi- mony before the ...
... expected . I think the counterpoint to all this , and some of this is set forth , I have a story from U.S. News and World Report , " Will Japan Trip the Bull ? " , the highlights that you talked about , half your testi- mony before the ...
Page 19
... expected increased demand in East Asia , which has been a very large part of the expected world de- mand for crude oil . In fact , it is working in reverse . What happens is that it does not take very long for oil storage facilities ...
... expected increased demand in East Asia , which has been a very large part of the expected world de- mand for crude oil . In fact , it is working in reverse . What happens is that it does not take very long for oil storage facilities ...
Page 41
... expected at certain occasions . Southeast Asia has turned out to be worse than we had expected . But all of these pieces have to fit together in an overall policy framework , and that is what we try to do , and we try to come to an ...
... expected at certain occasions . Southeast Asia has turned out to be worse than we had expected . But all of these pieces have to fit together in an overall policy framework , and that is what we try to do , and we try to come to an ...
Page 43
... expected surplus is indeed ephemeral , it doesn't create a particular problem for us . But if we commit some- thing which we are not sure we have , we are taking a risk . As I said in the Senate yesterday , if it turns out that it is ...
... expected surplus is indeed ephemeral , it doesn't create a particular problem for us . But if we commit some- thing which we are not sure we have , we are taking a risk . As I said in the Senate yesterday , if it turns out that it is ...
Page 56
... expected profits on capital , has been instrumental in propelling the economy forward . The consequences for the American worker have been dramatic and , for the most part , highly favorable . A great many chronically underemployed ...
... expected profits on capital , has been instrumental in propelling the economy forward . The consequences for the American worker have been dramatic and , for the most part , highly favorable . A great many chronically underemployed ...
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Common terms and phrases
acceleration aggregate annual rate Asia Asian crisis Asian economies average BACHUS balance banks billion budget capital Chairman CASTLE Chairman Greenspan Committee CONGRE CONGRESS THE LIBRARY Consumer price continued costs debt decline deficit demand developments dollar domestic economic growth effect equity prices expansion expected exports factors federal funds rate Federal Reserve financial markets FOMC forecasts fourth quarter full employment gains half hourly compensation households Humphrey-Hawkins impact income increase Indonesia inflation inflationary International Monetary International Monetary Fund investment Japan Japanese labor markets LIBRA LIBRARY OF CONGRESS loans long-term interest rates monetary policy months nomic nominal opportunity cost output overall percent potential pressures price stability problems productivity quarter of 1997 real GDP recent reduced remained Reserve's rising risk second quarter sector slowed spending subcommittee surplus tax cuts Thank tion Treasury Treasury securities trend U.S. economy unemployment rate velocity wage yield yield curve
Popular passages
Page 90 - On the capital front, foreign direct investment in the United States and US direct investment abroad tripled between 1985 and 1994 And companies are tapping a global labor market.
Page 12 - So far this year, our economy has continued to enjoy a virtuous cycle. Evidence of accelerated productivity has been bolstering expectations of future corporate earnings, thereby fueling still further increases in equity values, and the improvements in productivity have been helping to reduce inflation.
Page 34 - Congress further declares and establishes as a national goal the fulfillment of the right to full opportunities for useful paid employment at fair rates of compensation of all individuals able, willing, and seeking to work.
Page 97 - February 1977. band during the fint half of 1998. centered a little below the levels that prevailed in the latter part of 1997. The thirty-year bond yield touched its lowest value since the bond was introduced to the regular auction calendar in 1977; it was also lower than any sustained yield on the twenty-year bond (the longest maturity Treasury security before the issuance of the thirty-year bond) since 1968. Meanwhile, the average yield on five-year notes in the first half of the year was the...
Page 86 - This decrease from 854,435 gt to 541,355 gt reflects ship deliveries made between the fourth quarter of 1996 and the fourth quarter of 1997, without compensating replacement orders (USDOT MARAD 1999).