ZIFFPAGE TITLEFederal Reserve Board BaseBy Mel Duvall | Posted 2005-04-06 Email Print
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How does Federal Reserve chairman Alan Greenspan decide to raise rates a quarter point? By analyzing a potent mixture of raw pecuniary data and computerized economic intelligence against first-hand reports from key hubs of U.S. financial activity and fiveCase">
Federal Reserve Board Base Case
Headquarters: 20th St. and Constitution Ave. N.W., Washington, DC 20551
Phone: (202) 452-3000
Business: U.S. monetary policy, economic research
Chief Information Officer: Stephen Malphrus
Budget 2004-2005: $529 million.
Challenge: To collect and analyze more than 1.5 million economic statistics to help devise monetary policy and affect performance of the U.S. economy.
- Keep inflation, as measured by personal consumption expenditures, at 1.75% or less in 2005 and 2006, about the same as last year's 1.6% increase.
- Grow the economy by 3.5% or more, compared to 3.75% in 2004.
- Reduce unemployment to 5.25% or less, from 5.4% in 2004.
- Work with the White House to reduce the federal deficit, from $412 billion last year.