Business cycle measures can provide timely statistical evidence of turning points.

Factors other than changes in oil supply may cause changes in oil prices.

With the funds rate driven to levels far below its target, the FOMC had no recourse but to adjust the target accordingly.

The spot prices of West Texas Intermediate and Brent crude oil recently diverged. If this divergence persists, economists and energy analysts may want to focus on Brent prices when predicting the level of gasoline prices.

The relationship between unemployment and output growth changes during recoveries.

If employment revisions are systematically biased, they could affect how policy is conducted.