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About the FedFed Watching IndicatorsFed StatisticsKey Fed Facts

Fed Watching Indicators
Alternative Inflation Meausures
Gold Prices
Employment Cost Index
Civilian Unemployment Rate
Pool of Available Labor
Non Farm Productivity
Treasury Yields
Stock Prices
Fed Monetary Policy Summary


Fed Monetary Policy Summary

Economic Projections for 2003 -- Updated 7/15/03**
  Governors and Bank Presidents
Indicator Memo 2002 Actual Range Central Tendency
(Change, 4th quarter to 4th quarter)
Nominal GDP 4.3% 3.50 - 4.75% 3.75 - 4.50%
Real GDP 2.9% 2.25 - 3.00% 2.50 - 2.75%
PCE chain-type price index 1.9% 1.00 - 1.75% 1.25 - 1.50%
(Average Level, 4th quarter)
Civilian unemployment rate 5.9% 6.00 - 6.25% 6.00 - 6.25%



Economic Projections for 2004 -- Updated 7/15/03 **
  Governors and Bank Presidents
Indicator Memo 2002 Actual Range Central Tendency
(Change, 4th quarter to 4th quarter)
Nominal GDP 4.3% 4.75 - 6.5 % 5.25 - 6.25%
Real GDP 2.9% 3.5 - 5.25% 3.75 - 4.75%
PCE chain-type price index 1.9% 0.75 - 2.00% 1.00 - 1.50%
(Average Level, 4th quarter)
Civilian unemployment rate 5.9% 5.50 - 6.25% 5.50 - 6.00%


**The Federal Reserve updates its Monetary Policy Report to the Congress in February and July each year. The February report covers forecasts for the current year while the July report covers the Fed's preliminary forecasts for the upcoming year as well.




Alternative Inflation Measures   •   Gold Prices   •   Employment Cost Index   •   Civilian Unemployment Rate

Pool of Available Labor   •   Nonfarm Productivity   •   Treasury Yields   •   Stock Prices   •   Fed Monetary Policy Summary
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