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The Economy in Perspective

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Behind the curve … Those who put their money where their mouths are speculate that next April, the federal funds rate will be nearly 50 basis points lower than today’s 6.5% rate. Moreover, with one-year Treasury bills trading at 5.75% and 10-year Treasury bonds at 5.35%, investors clearly are expecting short-term interest rates to continue declining and to stay in a lower range for much of 2001.

Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-12, pp. 01, 12.01.2000.

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