Mr. Chairman, excluding for the moment the market’s expectations of a significant downward policy move at this meeting, I have a strong preference for alternative D, like President Hoenig. I see widespread evidence that the upside risk to inflation has increased appreciably, as evidenced by rapid money growth, a ...

Thank you, Mr. Chairman. Eighth District economic conditions have softened, but with considerable variability across industries and local areas. The outlook for District agriculture is very strong in the context of high commodity prices. This prospect is reflected in prices of agricultural land, which in areas within the District have ...