The Federal Reserve’s response has been guided by our mandate to promote maximum employment and stable prices for the American people, along with our responsibilities to promote the stability of the financial system. -3When financial markets came under intense pressure last year, we took broad and forceful actions, deploying both our conventional and emergency lending tools to more directly support the flow of credit.
The weighted median is exactly equal to owners' equivalent rent nearly half the time because that component has an extremely large share of the consumption basket and fairly low volatility (Bryan and Pike, 1991; Hogan and others, 2001; and Bryan and Meyer, 2007).