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Word Count: 469
Right now the economy is experiencing moderate growth We believe that given the current situation taxes should be kept the same Alan Greenspan and the others in the FOMC have similar views as we do for the future of the economy In the latest FOMC meeting the Federal Reserve Board decided that they are not going to be changing monetary policy The Federal Funds rate 65 and the discount rate 6 will not be changing This supports our position to keep policy the same The FOMC understands that the economy is doing well even amongst the beginning of what some call a recession As the chief economist at Merrill Lynch Bruce Steinburg said that the economy has gone from great to good or maybe great to OK So even in the midst of an overly concerned media the economy is not in need of change Government spending is produced a surplus of about 124 billion last year And this number is estimated to increase steadily If there is no change in monetary or fiscal policy this trend should become reality The surplus should be taken advantage of to begin paying off the enormous national debt Two major indicators are showing that the economy is in good condition The first of these is the Product Price Index PPI The PPI is showing no pressures of inflation The PPI is up only 01 from last month as expected This means that the economy is in good shape and doesnt need the influence of a change in taxes The Consumer Price Index CPI has increased by only 03 This number is small enough to ensure that monetary policy will remain unchanged Unemployment is very low about 39 Some people think that with such low unemployment there is a higher risk of inflation getting out of control However Greenspan felt that There are signs that the unemployment rate is creeping up from its current
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