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Essay / Research Paper Abstract
A 4 page paper discussing the economy in the US in 3Q2005 and making recommendations for the future. The primary recommendation is that the Federal Reserve leave interest rates as they are at present as long as inflation does not become problematic. Business profits may decline as fuel costs rise. Tax revenues could be lower in the future but tax rates should remain at current levels to continue to encourage business growth and to maintain consumer spending in the face of likely fuel-related price increases of consumer goods. Bibliography lists 5 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KSeconRecUS05.rtf
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Unformatted sample text from the term paper:
The economy of the United States is a complex entity, and economists routinely disagree on what it can be expected to do in detail. Most do generally agree on
broad terms, however, and it appears that many observers expect the US economy to continue to grow and prosper in the short term despite rapidly-increasing fuel prices and rising interest
rates. The purpose here is to make recommendations for the future within expected conditions. Leading Indicators Consumer spending, housing starts, warehouse inventories,
interest rates and unemployment all are primary indicators of the current state of the economy. Consumer spending is seen as the single greatest driving force of the US economy;
as such unemployment and interest rates are important indicators as well, as is consumer confidence. Recovery from the post-9/11 recession often has been described as a "jobless" recovery in
that there are so many changes still underway in American business. Nevertheless, unemployment remained at 5.0 percent in July 2005, a rate that some economists view as representing full
employment (Bureau of Labor Statistics Home Page, 2005). Though consumer spending drives the economy, consumers must have regular income and hold healthy confidence about their future in order to
feel free to spend their income. Bayot (2005) is gleefully optimistic about consumer spending in the future based on the figures reflecting the
recent past. In May 2005, "most economists were predicting a slowdown based on data released" (Bayot, 2005; p. C12) in April 2005. Looking at the short term, an
economist for Morgan Stanley notes, "If those estimates end up being about right, that sure wasnt much of a soft patch" (Bayot, 2005; p. C12). The long-term view could
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