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Essay / Research Paper Abstract
A 4 page paper designed to recommend to the Federal Reserve Board that it retain interest rates at their current level when it convenes in June, 2004. The paper discusses current and future implications based on current economic indicators, and discusses global implications as well. It reviews the meaning of higher interest rates for business and inflation, to conclude that current rates should remain in effect throughout the next quarter. Bibliography lists 10 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KSintRtHold.rtf
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Unformatted sample text from the term paper:
Banks Board of Governors will meet in the next several weeks to discuss and act on interest rate changes. The purpose here is to assess current conditions and make
recommendation on whether to alter the current interest rate or hold it steady at its present level. There are four broad areas to consider: current conditions; future prospects;
economic issues; and finally the recommendation. Current Conditions As has been the case since the end of the post-9/11 recession, the economy looks
promising overall but still retains some questionable points. This has been and continues to be a "jobless" recovery, one such as never has been seen before. While some
sectors - such as housing - remain strong, others such as manufacturing and retail are inordinately weak. GDP. GDP in 1Q04 remains
virtually unchanged from 4Q03, growing at an annual rate of 4.2 percent. Growth at that percentage in the worlds largest economy is impressive, and would cause concern about growing
inflation if other indicators were keeping up with it. Unemployment remains high, however, and there is virtually no pressure on wages. This indicates that inflation will remain low.
Consumer Price Index. The CPI has increased over the last quarter, but it still remains lower than in early 2003 when interest
rates were similar and prices declined for four additional quarters. Nonfarm Payroll Employment. Employment has risen dramatically over the past two quarters,
for a gain of 488,000 jobs in two quarters. This follows nine consecutive quarters of loss, however, and the labor market still has not regained the position it held
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