TBMA Sees Growth Up, 25 Basis Point Cut

Newman, Emily
June 2003
Bond Buyer;6/25/2003, Vol. 344 Issue 31664, p2
Trade Publication
Economic growth is expected to get better and the Federal Reserve System (Fed) is likely to lower interest rates at its meeting of the Federal Open Markets Committee this week, The Bond Market Association (TBMA) forecasted. TBMA's mid-year economic survey of chief economists predicted gross domestic product growth at two percent annual rate in the second quarter, followed by 3.5 percent growth on an annual rate during the second half of this year and 3.6 percent growth next year. Meanwhile, two-thirds of the association expect the Fed to announce a 25 basis point interest rate cut, with the remainder forecasting a 50 basis point cut. Association members echoed several Fed members and other economists, predicting that deflation will remain a" potential, though remote" threat to the economy.


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