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Essay / Research Paper Abstract
A 4 page paper discussing economic conditions as they existed on October 15, 2003, followed by a discussion of factors affecting the decision to alter interest rates. The US economy appears to be emerging from recession at last; conditions did not warrant changing interest rates. Bibliography lists 5 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KSeconFedPol.rtf
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Unformatted sample text from the term paper:
economist with BMO Nesbitt Burns, commented in a story published October 30 that "The U.S. slowdown is over, dead, gone, defunct, finished and unlikely to return soon" (Aversa, 2003).
We can only hope... The US economy grew at an astounding rate of 7.2 percent during the third quarter, for the strongest pace since 1984 (Aversa, 2003).
Will it last? What will the Federal Reserve do with it? For the time being, it is going to leave interest rates unchanged
at 1.0 percent and reevaluate later. The purpose here is to assess that decision, while analyzing facts to arrive at a determination of the wisdom of that decision. The
Beige Book Published eight times each year, the latest release of the Federal Reserves Beige Book is dated October 15, 2003. The
Summary (2003) reports that overall, "both wages and prices of finished goods and services remained relatively stable." This is a point worth noting
in considering why the Fed has acted as it has. If both wages and prices are stable, then inflation is not growing. This is the primary consideration when
the Fed is considering raising interest rates. Decline in output coupled with decreased consumer spending provides impetus for lowering rates. The Beige
Book Summary (2003) reports that despite a decline in auto sales, consumer spending strengthened overall and retailers current inventory levels are more favorable than in the recent past. The
residential real estate market remained strong, as it has been for several months. The banking sector reported a modest increase in business loan demand, information consistent with the fact
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