JACKSON HOLE, Wyo. -- Federal Reserve officials believe they remain well equipped to fight inflation and guide economic growth despite massive changes in financial markets that have reduced the role of banks as suppliers of credit.

Speaking at a two-day conference on monetary policy sponsored by the Federal Reserve Bank of Kansas City that ended Saturday, Fed officials also signaled that they intend to continue to take a wide variety of total and economic indicators into account when setting short-term interest rates.

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