Oct 25, 2007

Charles Evans: "We see growth recovering next year"

Our baseline forecast sees soft economic activity this fall; notably, it is likely that a further sharp decline in residential investment will weigh on the top-line growth numbers.

But we see growth recovering next year and moving up to average close to potential later in 2008, which we at the Chicago Fed currently see as being somewhat above 2 1/2 percent.

~ Charles L. Evans, president, Chicago Federal Reserve Bank, October 22, 2007 speech

Source: "Wall Street Wants 50, Fed May Give Zip for Now," Bloomberg.com, October 25, 2007

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