Economic growth will be steady, inflation lower, and the unemployment rate will rise in 2008, according to predictions from the Federal Reserve Bank of Chicago’s Economic Outlook Symposium released yesterday. Real gross domestic product is seen rising 2.5% in 2007 and 2008, while inflation, as measured by the consumer price index, will rise 3.6% this year and 2.6% next, symposium participants predicted. They see inflation at 4.7% by year-end and 5.0% by the end of 2008. This suggests “that overall growth in the economy is somewhat below potential,” the Chicago Fed said.“Short-term interest rates are expected to rise 17 basis points in 2008, while long-term rates are predicted to increase 30 basis points over the same time period,” the Fed said. “The trade-weighted dollar is expected to edge lower in 2008.”
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The company expects construction to take four years, with operations beginning in summer of 2028 ahead of the Los Angeles Olympics.
54m ago -
Los Angeles Mayor Bass' proposed $12.8 billion spending plan aims to close a $467 million deficit.
57m ago -
Fitch Ratings said the negative outlook on the BB-plus rating reflects Miami Jewish's thin operating profile.
April 22 -
The new-issue calendar will be a "good test to see if the higher absolute yields can pull buyers off the sidelines or if underwriters need to widen spreads significantly enough to reprice the entire market to clear the deals," according to Birch Creek strategists.
April 22 -
The state of emergency will let the governor use the central government's rainy-day fund to provide money to WAPA that semi-autonomous agencies of his government owe the authority. WAPA will use the money to make payments to bondholders and other creditors starting Tuesday.
April 22 -
"The upgrade is supported by strengthened debt service coverage ratios due to better than expected recovery from the pandemic," Fitch said.
April 22