Federal Reserve's First Monetary Policy Report for 1996: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fourth Congress, Second Session, on Oversight on the Monetary Policy Report to Congress Pursuant to the Full Employment and Balanced Growth Act of 1978, February 21, 1996, Volume 4 |
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adjustments aggregate ALAN GREENSPAN annual rate assets average balance banks billion boost budget deficit business cycle capital Chairman GREENSPAN consumer price index costs debt decline demand dollar economic expansion economic growth economy employment expenditures exports FEBRUARY 21 federal funds rate Federal Open Market Federal Reserve fell firms fiscal FOMC forecast fourth quarter further going Government households income indicators industrial inflation inflation expectations inflationary pressures inventory investment labor long-term interest rates long-term rates lower ment Mexican peso Mexican real moderate monetary policy move nomic Nonetheless nonfinancial Open Market Committee output pace percent percentage point potential price stability problem productivity programs quarters of 1995 range recent recession reduce remained retail rise rose sector Senator FAIRCLOTH Senator GRAMM Senator MACK Senator SARBANES sharply short-term significant slightly slowed spending sport utility vehicle substantial three quarters tion U.S. dollar unemployment rate