2011 Memos
January 14

Request for January Projections (PDF)

January 19

Cover Memo: Background Material on Structural Unemployment (PDF)
  - Reserve Bank Report on Structural Unemployment (PDF)
  - Analyses of Select Factors Affecting the Current Level of Structural Unemployment (PDF)
  - What drives movements in the unemployment rate? A decomposition of the Beveridge curve. (PDF) | HTML  (11/10/2010)
  - What Drives Matching Efficiency? A Tale of Composition and Dispersion (PDF) | HTML 
  - Structural Unemployment in the 2008 Recession (PDF)
  - The Recent Evolution of the Natural Rate of Unemployment (PDF)
  - Understanding Recent Increases in Unemployment Duration (PDF)
  - A new state-space model of potential output and the business cycle (PDF) (5/3/2010)
  - Extended Unemployment Benefits and the Risk of Hysteresis (PDF)
  - Internal Migration in the US: Updated Facts and Recent Trends (PDF) (12/1/2010)
  - Research on Employment and Unemployment (PDF)

April 15

Request for April Projections--New Logistics (PDF)

April 19

Background on Strategies for Removing Policy Accommodation (PDF)
  - Exit Strategy (PDF)
  - Long-Run Policy Implementation Frameworks (PDF)

May 18

Draining Tools Update (PDF)

June 9

Cover Memo: Background Material on DSGE Models (PDF)
  - System DSGE Project Documentation (PDF)

June 9

FRBNY DSGE Model: Research Directors Draft (PDF)
Projections from EDO: Understanding the Current Outlook and the Great Recession in a DSGE Model (PDF)
Detailed Philadelphia (Prism) Forecast Overview (PDF)
Summary of Chicago Fed DSGE Model for Federal Reserve System Researchers (PDF)

June 10

Request for June Projections (PDF)

June 15

Cover Memo: New Framework for Staff Projections of Commodity Prices (PDF)
  - Revisions to Economic Forecasts and Commodity Prices (PDF)
  - Modeling Commodity Prices (PDF)
  - Evaluating the Forecasting Performance of Commodity Futures Prices (PDF)

August 3

Cover Memo: Attached Memos on Possible Policy Actions to Provide Additional Monetary Accommodation (PDF)
  - Potential Monetary Policy Tools to Provide Additional Accommodation (PDF)
  - Reducing the IOER Rate (PDF)

August 4

A Further Memo on Possible Policy Actions to Provide Additional Monetary Policy Accommodation (PDF)
  - Strategies for Targeting Interest Rates Out the Yield Curve (PDF)

August 8

Adopting an Alternative Monetary Policy Framework (PDF)

September 12

Possible Approaches to Providing Monetary Accommodation: Reinvestment Maturity Extension Program, SOMA Portfolio Maturity Extension Program, and Long-Maturity LSAP (PDF)

September 15

Supporting Memo Cited in September 12, 2011 Note on Possible Approaches to Providing Monetary Accommodation (PDF)
  - Term Structure Modeling with Supply Factors and an Application to Maturity Extension Program Evaluation (PDF)

September 26

Approaches to Clarifying the Conditionality in the Committee's Forward Guidance (PDF)

October 6

Cover Memo: Alternative Monetary Policy Frameworks (PDF)
  - Alternative Monetary Policy Frameworks (PDF)

October 21

Request for November SEP and Trial-Run Projections (PDF)

October 24

Incremental Balance Sheet Policies (PDF)

October 24

DSGE Models Update (PDF)

October 25

Questions for Committee Discussion of Monetary Policy Frameworks (PDF)

October 25

Supporting Document for DSGE Models Update (PDF)

October 27

Possible FOMC Actions in the MBS Markets (PDF)

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Last Update: May 28, 2020