Monetary Policy Report submitted to the Congress on July 18, 2007, pursuant to section 2B of the Federal Reserve Act
| Period | Federal | State and local |
|---|---|---|
| 2001 | 6.42 | 4.22 |
| 2002 | 7.83 | 2.10 |
| 2003 | 5.54 | -0.38 |
| 2004 | 2.27 | 0.44 |
| 2005 | 2.05 | 0.77 |
| 2006 | 2.42 | 2.84 |
| 2007:Q1 | -3.94 | 3.92 |
|
Source: Department of Commerce, Bureau of Economic Analysis. |