1.1: Economic and Financial Developments and Prospects

Stay abreast of recent developments and prospects in the U.S. economy and financial markets, and in those abroad, so that monetary policy decisions will be well informed.

Other Information:

This objective will be pursued in part through the following actions: • Staff will provide to policymakers periodic briefings and written reports, analyzing incoming economic data. Staff will also prepare ad hoc analyses, as needed, to address special questions. • Staff will regularly prepare formal, quantitative forecasts for use by policymakers. • Policymakers and staff will draw on extensive contacts in the private sector to obtain timely information about tendencies in the economy and in financial markets. The Beige Book, summaries prepared by Reserve Bank staff, will be one source of such information. • Policymakers and staff will maintain close contacts with officials in international organizations and at foreign official institutions to remain current on economic developments and policies abroad.

Indicator(s):

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