8,812 research outputs found

    Domestic open market operations during 2000

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    Open market operations ; Monetary policy ; Federal Open Market Committee

    Highlights of domestic open market operations during 1998

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    The Trading Desk at the Federal Reserve Bank of New York uses open market operations to implement the policy directives of the Federal Open Market Committee (FOMC). The FOMC expresses its short-term objective for open market operations as a target level for the federal funds rate--the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions. To keep the federal funds rate near the level specified by the FOMC, the Desk uses open market operations to bring the supply of balances at the Federal Reserve into line with the demand for them. In 1998, the level of balances that depository institutions were required to hold at the Federal Reserve continued to decline, to historic lows. The primary reason for this was the ongoing proliferation of retail "sweep" programs, which transfer depositors' funds from transaction accounts that are subject to reserve requirements into other deposit accounts that are not. In past years, declines in required balances had been associated with greater volatility in the federal funds rate because depository institutions have less flexibility in managing their daily balance positions. However, through the first three quarters of 1998, the funds rate behaved much as it had in 1997, even though required balances were lower. In the final quarter of 1998, funds rate volatility rose when market participants evinced greater concerns about the credit quality of their counterparties at a time of increased uncertainty in financial markets.Open market operations ; Monetary policy ; Federal funds market (United States)

    The noise environment of a school classroom due to the operation of utility helicopters

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    Noise measurements under controlled conditions have been made inside and outside of a school building during flyover operations of four different helicopters. The helicopters were operated at a condition considered typical for a police patrol mission. Flyovers were made at an altitude of 500 ft and an airspeed of 45 miles per hour. During these operations acoustic measurements were made inside and outside of the school building with the windows closed and then open. The outside noise measurements during helicopter flyovers indicate that the outside db(A) levels were approximately the same for all test helicopters. For the windows closed case, significant reductions for the inside measured db(A) values were noted for all overflights. These reductions were approximately 20 db(A); similar reductions were noted in other subjective measuring units. The measured internal db(A) levels with the windows open exceeded published classroom noise criteria values; however, for the windows-closed case they are in general agreement with the criteria values

    Some effects of the atmosphere and microphone placement on aircraft flyover noise measurements

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    The effects of varying atmospheric conditions on certification-type noise measurements were studied. Tests were made under various atmospheric conditions at two test sites, Fresno, California, and Yuma, Arizona, using the same test aircraft, noise, and weather measuring equipment, and operating personnel. Measurements were made to determine the effects of the atmosphere and of microphone placement on aircraft flyover noise. The measurements were obtained for characterization of not only the acoustic signature of the test aircraft, but also specific atmospheric characteristics. Data are presented in the form of charts and tables which indicate that for a wide range of weather conditions, at both site locations, noise data were repeatable for similar aircraft operating conditions. The placement of microphones at ground level and at 1.2 m over both spaded sand and concrete illustrate the effects of ground reflections and surface impedance on the noise measurements
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