Willis, H. Parker (1923). The Federal Reserve System: Legislation, Organization, and Operation. New York: Ronald Press Company. Woodford, Michael (2003). Interest and Prices: Foundations of a Theory of Monetary Policy. Princeton: Princeton University Press. -------- (2005). “Central Bank Communication and Policy Effectiveness (PDF),” in proceedings of The Greenspan Era: Lessons for the Future, a symposium sponsored by the Federal Reserve Bank of Kansas City.
The yield spread between the bonds of US companies with a high credit rating and ten-year Treasury paper was equal to 0.9 percentage points in January; the corresponding spread for the securities of riskier companies has stood at 2.8 points since last October.