The Economy in Perspective
Keep on truckin’ … If the Dow Jones index accurately forecasts future economic conditions, its surge past 9700 in early March signals a continuation of the U.S. boom. And why not be optimistic? The pace of aggregate activity continues to exceed the nation’s long-term average—and estimates of the threshold beyond which inflation should accelerate. No wonder forecasters of all stripes are confused.
Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-03, pp. 01, 03.01.1999.