Board of Governors of the Federal Reserve System

Cover Memo: Staff Memo on Identifying the Sources of the Unexpectedly Weak Economic Recovery (PDF)
  - Identifying the Sources of the Unexpectedly Weak Economic Recovery Using the FRB/US Model (PDF)

Cover Memo: Background Memo for Discussion of Asset Purchases – Risks Associated with "Reaching for Yield" and a Possible Jump in Long-Term Interest Rates (PDF)
  - Assessing the Risk of a Substantial Increase in Long-term Interest Rates (PDF)
  - The Distribution of Holdings of Long-term Securities (PDF)
  - Low for Long: The Behavior of Japanese Financial Institutions and Retail Investors during the Persistent Low Interest Rate Environment (PDF)

Cover Memo: Background Memo for Discussion of Asset Purchases – Efficacy of Asset Purchases (PDF)
  - Evaluating the Efficacy of the Federal Reserve’s Large-Scale Asset Purchases (PDF)

Cover Memo: Background Memo for Discussion of Asset Purchases – Supporting Documents on the Fiscal Implications of Asset Purchases (PDF)
  - Alternatives for Federal Reserve Remittance Policy  (PDF)
  - Foreign Central Bank Remittance Practices  (PDF)

DSGE Models Update (PDF)
Supporting Documents for DSGE Models Update (PDF)

Cover Memo: Background Memo for Discussion of Asset Purchases Fiscal Implications of Asset Purchases (PDF)
  - Fiscal Implications of Additional Large-Scale Asset Purchases for the Federal Government and the Federal Reserve (PDF)

Cover Memo: Supporting Documents for Discussion of Exit Strategy Principles (PDF)
  - Update on Alternative Frameworks for Monetary Policy Implementation  (PDF)
  - Update on Foreign Central Bank Operating Procedures and the Foreign Experience with Using Interest on Reserves as a Monetary Policy Instrument (PDF)

Cover Memo: Background Memo on Changing the Pace of Asset Purchases (PDF)
  - Changing the Pace of Asset Purchases (PDF)

DSGE Models Update (PDF)
Supporting Documents for DSGE Models Update (PDF)

Cover Memo: Assessing the Recent Decline in the Unemployment Rate and its Implications for Monetary Policy (PDF)
  - Assessing the Recent Decline in the Unemployment Rate and its Implications for Monetary Policy (PDF)

Cover Memo: Background Material on Forward Guidance for the Federal Funds Rate (PDF)
  - Some Possible Adjustments to the Committee’s Forward Guidance for the Federal Funds Rate (PDF)

DSGE Models Update (PDF)

Cover Memo: A Simple LSAP Rule (PDF)
  - Economic Conditions and the Federal Reserve’s Balance Sheet Under a Simple Rule to Guide Large-Scale Asset Purchases (PDF)

Supporting Documents for DSGE Models Update (PDF)

Cover Memo: Aspects of the Current Fiscal Situation (PDF)
  - Possible Macroeconomic Effects of a Temporary Federal Debt Default  (PDF)
  - Effects of a Short-Term Lapse in Appropriations on Economic Activity  (PDF)
  - Effects of the Lapse in Appropriations on the Labor Market and Labor Market Data  (PDF)

Cover Memo: Staff memo on the Tealbook forecast of consumer spending (PDF)
  - Perspectives on the Staff Outlook for PCE: Baseline Forecast, Uncertainty, and Some Specific Risks (PDF)

Cover Memo: Background Memos for Special Topic Discussion (PDF)
  - An Inflation Floor and Post-liftoff Policy in Forward Guidance for the Federal Funds Rate (PDF)
  - Analysis of Alternative Simple Rules for Large-Scale Asset Purchases (PDF)

The Potential Use of Balance Sheet Actions to Strengthen Forward Rate Guidance (PDF)

DSGE Models Update (PDF)
Supporting Documents for DSGE Models Update (PDF)

Cover Memo: Background Memo on Quantifying Headwinds (PDF)
  - Quantifying the Headwinds  (PDF)