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October 2008 Bluebook Tables and Charts


Money and Debt Forecasts

Table 2: Alternative Growth Rates for M2

(percent, annual rate)
50 bp Ease 25 bp Ease No Change Greenbook Forecast*
Monthly Growth Rates
Apr-08 2.1 2.1 2.1 2.1
May-08 1.5 1.5 1.5 1.5
Jun-08 -0.3 -0.3 -0.3 -0.3
Jul-08 6.4 6.4 6.4 6.4
Aug-08 -1.5 -1.5 -1.5 -1.5
Sep-08 15.6 15.6 15.6 15.6
Oct-08 17.1 17.1 17.1 17.1
Nov-08 7.0 6.6 6.2 7.0
Dec-08 6.8 6.0 5.2 7.0
Jan-09 4.4 3.6 2.8 5.0
Feb-09 2.8 2.1 1.4 4.0
Mar-09 1.5 1.0 0.5 3.0
Quarterly Growth Rates
2008 Q2 5.2 5.2 5.2 5.2
2008 Q3 3.6 3.6 3.6 3.6
2008 Q4 11.4 11.2 11.0 11.4
2009 Q1 4.6 3.8 3.1 5.2
Annual Growth Rates
2007 5.7 5.7 5.7 5.7
2008 7.5 7.5 7.4 7.5
2009 2.0 1.7 1.4 2.8
2010 3.2 3.2 3.2 3.0
Growth From To
Oct-08 Mar-09 4.5 3.9 3.2 5.2

* This forecast is consistent with nominal GDP and interest rates in the Greenbook forecast.  Return to table

Last update: March 7, 2014