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Essay / Research Paper Abstract
A 7 page paper discussing the state of the economy. Alan Greenspan has gone before Congress in May 2002 to inform the legislators of the state of the economy and the intentions of the Federal Reserve. He outlines current economic indicators and qualifies rising unemployment to arrive at a conclusion to allow interest rates to remain as they are. Bibliography lists 6 sources.
Page Count:
7 pages (~225 words per page)
File: CC6_KSeconIntRate.rtf
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Unformatted sample text from the term paper:
before Congress to inform the legislators of the state of the economy and the intentions of the Federal Reserve. He outlines current economic indicators and qualifies rising unemployment to
arrive at a conclusion to allow interest rates to remain as they are. The Recent Recession
On September 10, 2001, the stock market was uncertain but holding its own, and many of the nations largest companies were announcing disappointing second quarter business results. After
the longest period of economic expansion known in modern times, the US economy had entered a decline that some were saying was a recession. Others were not as quick
to use the dreaded "R" word, and pointed to strong performance in several sectors. No one was able to remain in denial, however,
and the US officially entered recession following the January 2002 announcement of business results in 4Q2001. The effects of the recession have been easing for some weeks, and it
appears that the recession has been mild and now is over. Unemployment is one of the last economic indicators to recover, however (Barkey, 2002), and unemployment rose again in
March 2002 to a national rate of 5.7 percent. In April, unemployment rose to 6.0 percent. Current Indicators
As stated, unemployment has risen once again to 6.0 percent. Single-family housing starts in March were 11 percent below those of February 2002 (New residential
construction in March 2002, 2002). Wholesale Sales Seasonally-adjusted wholesale merchant sales in March were down
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