Federal Reserve's First Monetary Policy Report for 1999: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Sixth Congress, First Session, on Oversight on the Monetary Policy Report to Congress Pursuant to the Full Employment and Balanced Growth Act of 1978, February 23, 1999, Opseg 4U.S. Government Printing Office, 2000 - Broj stranica: 95 |
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activity affiliate aggregate Asian assets balance banking and commerce billion Board of Governors boost Brazil Brazilian real capital Chairman GRAMM Chairman Greenspan commercial Committee CONGRESS THE LIBRARY continued costs countries crisis debt decline deficit demand dollar domestic equity prices expansion exports February February 23 federal funds rate Federal Reserve System Federal savings associations fell financial markets financial modernization financial services financial system firms fiscal FOMC foreign fourth quarter further gains global growth holding company households income increase industrial inflation institutions interest rates investment investors issues labor markets LIBRARY OF CONGRESS loans LTCM ment Monetary Policy Report mortgage move nominal outlook percent price index productivity quarter of 1998 recent reflected rise risk Russian financial crisis sector Senator ALLARD sharply slowing spending subsidy substantial surplus tax cuts technologies Thank tion trade Treasury securities U.S. economy unitary thrift volatility yield curve yields
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Stranica 7 - Mr. Chairman and members of the committee, I very much appreciate the opportunity to appear before you today In support of four public works projects in my district, the 13th Congressional District of Ohio.
Stranica 55 - ... be a bank holding company by virtue of its ownership or control of shares acquired by it in connection with its underwriting of securities...
Stranica 21 - US household, government, and nonfinancial business sectors increased about 6'/4 percent, in the top half of its 3 percent to 7 percent range and considerably faster than nominal GDP. Buoyed by strong spending on durable goods, housing, and business investment, as well as by merger and acquisition activity that substituted debt for equity...
Stranica 62 - THE PRESIDENT OF THE SENATE THE SPEAKER OF THE HOUSE OF REPRESENTATIVES. The Board of Governors Is pleased to submit Its Monetary Policy Report to the Congress pursuant to the Full Employment and Balanced Growth Act of 1978.
Stranica 47 - ... foreshortened leadtimes have, thus, apparently made capital investment distinctly more profitable, enabling firms to substitute capital for labor and other inputs far more productively than they could have a decade or two ago. Capital, as economists like to say, has deepened significantly since 1995. The surge in investment not only has restrained costs, it has also increased industrial capacity faster than the rise in factory output.
Stranica 47 - Through the 1970's and 1980's, firms apparently found it easier and more profitable to seek relief from rising nominal labor costs through price increases than through cost-reducing capital investments. Price relief evidently has not been available in recent years, but relief from cost pressures has. The newer technologies have made capital investment distinctly more profitable, enabling firms to substitute capital for labor far more productively than they would have a decade or two ago.
Stranica 15 - System operating procedures that might enhance efficiency and bolster profit margins. The rising demand for labor continued to strain supply in 1998, The civilian labor force rose just a touch more than 1 percent from the fourth quarter of 1997 to the fourth quarter of 1998, and with the number of persons holding jobs rising somewhat faster than the labor force, the civilian unemployment rate fell still further.
Stranica 45 - The Federal Reserve must continue to evaluate, among other issues, whether the full extent of the policy easings undertaken last fall to address the seizing-up of financial markets remains appropriate as those disturbances abate.
Stranica 27 - ... rose strongly, boosted by the lagged effect of the substantial real depreciation of the ruble in late 1998 and by higher oil prices. The inflation rate moderated to about SO percent, somewhat greater than the depreciation of the ruble over the course of the year. The dollar's average foreign exchange value, measured on a trade-weighted basis against the currencies of a broad group of important US trading partners, ended 1999 little changed from its level at the beginning of the year. There appeared...