Bank Economists Predict Fed Rate Cut

Newman, Emily
June 2003
Bond Buyer;6/19/2003, Vol. 344 Issue 31660, p2
Trade Publication
Bank economists forecast a quarter-point Federal interest rate cut at the Federal Open Market Committee meeting next week, the American Bankers Association Economic Advisory Committee (EAC) said on June 18, 2003. The prediction comes as members of the Fed have more frequently addressed the issue of deflation—a continuing downward spiral in prices — as a "remote" possibility. The EAC also said the risk of deflation was "minimal," and that "inflation will remain subdued at close to 2%." The recent decline of the dollar has helped to mitigate the risk of deflation, the committee said. The committee also projected national economic growth will expand to 3.5% from less than 2%, and that the acceleration will be sustained into 2004.


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