WP: Fed Experts Predicted "Solid" Growth Ahead

[DeepModem Mom]

Fed Experts Predicted 'Solid' Growth Ahead
Forecast Inspired Interest-Rate Policy

By Nell Henderson
Washington Post Staff Writer
Friday, September 24, 2004; Page E03


The Federal Reserve's staff predicted in August that the U.S. economy would grow at a "solid" pace through next year, in part because interest rates would remain relatively low during that time.

The staff's encouraging forecast -- the most recent publicly available snapshot of the Fed's thinking about the durability of the recovery -- was among the reasons central bank policymakers decided unanimously at their Aug. 10 meeting to raise their key short-term interest rate, according to minutes of the meeting released yesterday.

Fed officials nudged the benchmark federal funds rate up to 1.5 percent from 1.25 percent at the August meeting. They moved it up again Tuesday, at their subsequent meeting, to 1.75 percent, and indicated that they will probably raise it again before the end of the year to prevent inflation from rising.

The Fed releases the minutes of each policymaking meeting about six weeks after it is held, usually a day or two after the following meeting. So an account of this week's meeting will not be available until November....


http://www.washingtonpost.com/wp-dyn/articles/A45888-2004Sep23.html

[xchrom]

1. bush's bribery to the masses

equals a payoff to the financial institutions.
while i'm glad savings accounts will get a boost -- the public is mostly having their tax breaks raided by financial institutions.
this will really hurt the middle and lower classes.

[are_we_united_yet]

2. Sure

Thousands of jobs will pour in from China and India and Corporations will spontaneously pay higher wages and reinstate Christmas parties.

Sure.

[Justice]

3. You could google

and find the same headline for the last three quarters.

And then find the post quarter news that everyone was not as positive as predicted.

[DFWJock]

4. Woo hoo!

We're finally turning that corner!

[Media_Lies_Daily]

5. The Fed must have a different definition of "solid growth" than mine.

[hatrack]

6. Lather, Rinse, Repeat

Don't they get tired of coming up with new ways to say the same shit every week in their press releases?

[kodi]

7. da comrade. we will increase annual wheat production from 100MT to 75MT!

LONG LIVE THE REVOLUTION (er, EMPIRE!)

[Jeff in Cincinnati]

8. Happy Anniversary!!!

It's the third year in a row that the Fed and the Bush Administration have predicted "solid" growth in the economy.

And in addition to solid growth, I predict that Jennifer Garner will volunteer to become my love slave. See? I said it, so it must be true!