Board of Governors of the Federal Reserve System

SUMMARY AND OUTLOOK Outlook for EconomicActivity . . . . . . . . . Outlook...SUMMARY AND OUTLOOK Outlook for economic activity Growth in current dollar

Economic Dynamics Annual Meetings, the Federal Reserve Board, the Federal...economic conditions (such as unemployment) into their determination of

Economic Adviser, Federal Reserve Bank of Minneapolis Mr. Meek, Assistant...Economic Committee on February 9, at which he had testified. The Chairman

economic growth has decelerated in recent months, they were uncertain ...economic growth slows no further and inflation remains in check or accelerates

Summary of Commentary on ____________________ Current Economic Conditions...SUMMARY OF COMMENTARY ON CURRENT ECONOMIC CONDITIONS BY FEDERAL RESERVE

economic activity, although at record levels, re mained lower than needed...economic policy directive adopted at the preceding meeting (December 18

projections, including those prepared by the Council of Economic Advisers...projections showed a degree of strength that on occasion in the past had

economic scenarios.” The system would remain effective should reserves...of around £600 billion), the BOE expects that reserves will be “materially

Summary: Staff of the Federal Reserve Board met with representatives of

SUMMARY .................................................. i First District...projections of a moderate economic recovery. Most have increased combinations