An abstract based on testimony before the House Subcommittee on Domestic Monetary Policy, featuring summaries of business activity growth patterns and economic conditions in the Fourth Federal Reserve District.

A discussion of inflation experience over the last 20 years, including Federal Reserve System monetary policy and the use of monetary targets as tools for achieving the ultimate goal of zero inflation.

An analysis of the changes taking place in the banking industry, with a discussion of four options for reforming the structure of our banking system, and a recommendation for the most effective action.