Board of Governors of the Federal Reserve System

M2 of around 9-1/2 percent and for M3 [of about 8 percent]. The actual...2 percent; they will show an M2 increase of 8-1/2 percent, which will

2. Final sales 3.1 3.0 2.8 2.5 3. Consumer spending 2.7 5.3 1.0 .9 4. ...2.2 2.7 1.0 1.2 15. Exports of goods and services 9.3 9.9 19.7 18.4 16

.2 Though a stringent quality assurance process was employed, some imperfections...2.2 percent in the first quarter, down sharply from the increases of nearly

2-1/2 percent--roughly a quarter percentage point more than we had previously...1.2 3.4 3.0 Previous 2.3 2.4 2.8 Exclud

.2 Though a stringent quality assurance process was employed, some imperfections...2 percent rate in the first half, is expected to increase at a 2-1/2 percent

2 expected to expand at about a 2-1/4 percent annual rate, on average,...2-1/2 percent in 1992. As noted above, the outlook for inflation has deteriorated

2-1/2 to 6-1/2 percent and 1 to 5 percent. The modestly faster growth ...2-1/2 percent at an annual rate beginning by the second half of 1992.

.2 Though a stringent quality assurance process was employed, some imperfections...2-1/2 percent rate during 1986. Inflation, as measured by the gross domestic

2 percent in May and 7-1/2 percent in June.2 The growth in liquid deposits...M2 in the second quarter. Underlying demand for M2 relative to income

2) that, with these rate movements inducing changes in velocity, M2 and...2 and 2 percent throughout 1988 and 1989. This would hold the saving rate