Monday, November 14, 2005

Today the Philadelphia Fed released the findings of its fourth quarter survey of professional forecasters. The contours of the report show that the consensus expects growth to slow markedly in the fourth quarter of 2005, but then accelerate to much stronger growth during the first half of 2006.

Fed fund futures were generally unchanged last week. A light data calendar and a holiday-shortened schedule helped keep most near-term contract prices stable.