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 Committee on Banking and Financial Services, U.S. House of Representatives, One Hundred Sixth Congress, First Session, July 22, 1999, Volume 4 |
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acceleration aggregate average balance basis points billion Board of Governors budget capital gains tax century date change Chairman Greenspan Chairman LEACH Committee commodity concern CONG CONGRE CONGRESS THE LIBRARY Consumer price index continued corporate costs countries debt decline demand depository institutions dollar economic activity economic growth equity prices ESS THE LIBRARY euro exports families federal funds rate Federal Reserve System financial markets FOMC fourth quarter going Government gross domestic product important increase industrial interest rates investment investors issue labor markets LaFalce LIBRA LIBRARY OF CONGRESS MCCOLLUM Monetary Policy Report months move nominal nonfarm nonfinancial output pace percent annual rate potential pressures price index productivity growth quarter of 1998 Quintile recent reflected remained RESS rising risk saving second quarter sector slow spending surplus sustainable talk tax cuts tax rates Thank tightening tion trade deficit Treasury securities unemployment rate United wage
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Page 83 - Capital Account Foreign direct investment in the United States and US direct investment abroad remained robust in the first quarter.
Page 54 - While businesspeople must still operate in an uncertain world, the recent years' remarkable surge in the availability of realtime information has enabled...
Page 70 - THE PRESIDENT OF THE SENATE THE SPEAKER OF THE HOUSE OF REPRESENTATIVES. The Board of Governors is pleased to submit its Midyear Monetary Policy Report to the Congress pursuant to the Full Employment and Balanced Growth Act of 1978.
Page 72 - OF REPRESENTATIVES The Board of Governors is pleased to submit its Monetary Policy Report to the Congress pursuant to section 2B ol the Federal Reserve Act.
Page 53 - ... costs. The availability of new technology to each company and its rivals affords both the opportunity and the competitive necessity of taking steps to reduce costs, which translates on a consolidated basis into increased national productivity. The acceleration in productivity owes importantly to these new information technologies. Prior to this IT revolution, most of twentieth-century business decisionmaking had been hampered by limited information. Owing to the paucity of timely knowledge of...
Page 10 - I would appreciate the full text of my remarks be included for the record. [The prepared statement of Hon. Alan Greenspan can be found on page 109 in the appendix.] Chairman LEACH.
Page 84 - Bureau of Labor Statistics' measure of compensation per hour in the nonfarm business sector, which is derived from compensation information from the national accounts — has been rising more rapidly than the ECI in the past few years and has also decelerated less so far this year. Nonfarm compensation per hour increased 4 percent over the four quarters ended in the first quarter of 1999.
Page 29 - I have just a few questions that I would like to ask, starting with Mr.
Page 12 - Thank you. Chairman LEACH. Mrs. Roukema. Mrs. ROUKEMA. Thank you, Mr. Chairman. I...
Page 61 - I testified last month, the central bank cannot effectively directly target stock or other asset prices. Should an asset bubble arise, or even if one is already in train, monetary policy properly calibrated can doubtless mitigate at least part of the impact on the economy. And, obviously, if we could find a way to prevent or deflate emerging bubbles, we would be better off. But identifying a bubble in the process of inflating may be among the most formidable challenges confronting a central bank,...