Table of Contents
The US Economic Outlook: The Pause
That Refreshes
The U.S. Economic Expansion
Continues to Amaze
Core Inflation Is Subdued
Declining Unemployment, Particularly
Among Less Educated Workers
Workers Have Done Well In This
Expansion
Real GDP Growth Took Off in
1996
The Post-1995 Acceleration in
Growth: A Surprise But Not a Miracle
Investment Is Rising As A Share Of
GDP
And More is for High Tech
Productivity Is Accelerating
Multi-factor Productivity: Synergy
on a Grand Scale
How to Finance Investment?
Donít Look To Consumers
The Private Sector Saves Less, The
Public Sector Saves More
U.S. Investment Opportunities Pull
in Funds
PPT Slide
If Things Are So Good, Why Did The
Fed Tighten?
PPT Slide
Oil Prices Are A Bit of a
Problem
Higher Energy Prices Are Picking
Consumersí Pockets...
ÖBut Getting Only Small
Change
The U.S. Has Become More Energy
Efficient
Consumer Spending is
Moderating
Light Vehicle Sales Have
Peaked
Home Sales Have Tapered Off
Even the Stock Market Has Sobered
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