Crs Report for Congress Received through the Crs Web Current Economic Conditions and Selected Forecasts Updated November 15, 2004

By Makinen, Gail

Book Id: WPLBN0000188808
Format Type: PDF eBook
File Size: 0.2 MB
Reproduction Date: 2008

Title:	Crs Report for Congress Received through the Crs Web Current Economic Conditions and Selected Forecasts Updated November 15, 2004
Author:	Makinen, Gail
Volume:
Language:	English
Subject:	Government publications, Legislation., Government Printing Office (U.S.)
Collections:	Government Library Collection
Historic Publication Date:
Publisher:	Government Printing Office


Citation APA MLA Chicago Makinen, G. (n.d.). Crs Report for Congress Received through the Crs Web Current Economic Conditions and Selected Forecasts Updated November 15, 2004. Retrieved from http://gutenberg.us/

Excerpt
Summary: U.S. real GDP has been positive for 12 consecutive quarters, and the economy is considered to be in an “expansion” phase. As of the third quarter 2004, real or inflation-adjusted growth was nearly 10% above its previous high near the end of the 1991-2001 expansion.

Table of Contents
Contents Current Economic Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Monetary Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 GDP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Labor Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 The U.S. Foreign Trade Deficit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 The U.S. Dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Posture of Fiscal and Monetary Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Fiscal Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Monetary Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Economic Forecasts, 2004-2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Special Topics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Accounting for GDP Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Promotion of Economic Growth: The Importance of Saving . . . . . . . . . . . 16 List of Figures Figure 1. Real Dollar Exchange Rate (Broad Dollar Index) . . . . . . . . . . . . . . . . . 9 Figure 2. Yield on Selected Securities and Federal Funds (%) . . . . . . . . . . . . . . 12 List of Tables Table 1. The Growth Rate of Real GDP v. Final Sales, 1991-2003 . . . . . . . . . . . 3 Table 2. Civilian Unemployment Rate, 1991 - 2004 . . . . . . . . . . . . . . . . . . . . . . 5 Table 3. Rate of Change in the GDP Deflators, 1992 - 2003 . . . . . . . . . . . . . . . . 6 Table 4. Rate of Change in the Consumer Price Index (CPI), 1992 - 2003 . . . . . 6 Table 5. Rate of Change in Labor Costs, 1993 - 2004 . . . . . . . . . . . . . . . . . . . . . 8 Table 6. U.S. Foreign Trade Deficit, 1988 - 2003 . . . . . . . . . . . . . . . . . . . . . . . . 8 Table 7. Alternative Measures of Fiscal Policy . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Table 8. The Growth Rates of the Monetary Aggregate . . . . . . . . . . . . . . . . . . . 11 Table 9. Economic Forecasts 2004 - 2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Table 10. Accounting for GDP Growth: 1995 through 2004 . . . . . . . . . . . . . . 16 Table 11. U.S. Saving By Sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18