Economic Trends

Economic Trends is a monthly economic journal that provides analyses of current economic developments. Its audience consists of economists, bankers and those studying economics. Founded in 1979, Economic Trends has a circulation of about 8,800 and is non-paid. The Federal Reserve Bank of Cleveland publishes this periodical.

Articles from February

Brazil's Public-Sector Debt
The Achilles heel of sustained economic prosperity in Brazil--Latin America's biggest economy and the twelfth largest in the world--is the nation's public-debt burden. High and still-growing levels of debt increase Brazil's chances of defaulting on...
Economic Activity
The advance estimate from the national income and product accounts revealed that real gross domestic product (GDP) rose at a 4.0% annual rate during the fourth quarter of 2003, a little less than most forecasters had expected. Major contributors to...
Inflation and Prices
The general disinflation trend observed in the year-over-year comparisons continues. The Consumer Price Index (CPI) posted an annualized 2.6% increase in December after a 2.6%, annualized decrease in November, resulting in an index level consistent...
Labor Markets
Nonfarm payroll employment posted a net gain of 112,000 jobs in January 2004, its fifth consecutive monthly gain. The employment increase for December 2003 was revised to 16,000. Total payroll has increased by 366,000 jobs since last September. ...
Monetary Policy
Growth in the sweep-adjusted monetary base (total currency in circulation plus total reserves including depository institutions' vault cash) has been fairly constant over the past couple of years. In 2003, however, it recorded an annual growth rate...
Money and Financial Markets
At its January 27-28 meeting, the Federal Open Market Committee (FOMC) left the federal funds rate target unchanged at 1% and the primary credit rate at 2%. Short-term interest rates and the federal funds rate have moved roughly in tandem, dropping...
Savings Institutions
FDIC-insured savings institutions (S&Ls) reported net income of $4.56 billion for 2003:IIIQ. This was $590 million (14.9%) higher than a year earlier but $152 million lower than the second quarter. As in previous quarters, net income was buttressed...
The Current Account and the Dollar
The current account deficit narrowed in 2003:IIIQ, the first significant drop since the dollar began its recent decline. This pattern--smaller deficit, depreciating dollar--suggests that investors' diversification out of dollar-denominated assets has...
The Domestic Steel Industry
President Bush's December decision to eliminate the Section 201 steel tariffs on various carbon and alloy steel products refocused national interest on the domestic steel industry. Over the past three years, more than 30 U.S. steel companies have filed...
The Economy in Perspective
I am extraordinarily patient provided I get my own way in the end. --Margaret Thatcher At the conclusion of its January 28 meeting, the Federal Open Market Committee issued a press release stating that it "could be patient in removing its accommodative...
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