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Journal Article
Life after bank mergers
President's Message.
Journal Article
The cashless society and the Federal Reserve
President's Message.
Journal Article
Economy poised for sustainable growth
Journal Article
A new look at the regional economy
Journal Article
Whose side is the Federal Reserve on?
President's Message.
Journal Article
Should the Fed be made more accountable?
Journal Article
Should the Fed be involved in providing financial services?
President's Message.
Journal Article
A welcome to interstate banking and branching
Journal Article
To conclude: keep inflation low and, in principle, eliminate it
The U.S. economy performed well across the board in 1997, with low unemployment, robust economic growth, and the lowest sustained inflation in decades. Nevertheless, the current framework for monetary policymaking does not ensure that inflation is down for the count, says Federal Reserve Bank of St. Louis president Thomas C. Melzer in a speech reprinted here. In this speech, Melzer argues that the Federal Reserve ought to secure the best environment for economic growth by adopting multi-year inflation targets to reduce the trend rate of inflation and keep inflation low.