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December 2008 Bluebook Tables and Charts


Money and Debt Forecasts

Table 2: Bluebook Alternatives
Strictly Confidential Class II FOMC

M2 Path Ease 75 bp Ease 50 bp Ease 25 bp No change Greenbook Forecast*
Monthly Growth Rates
Jan-08 7.2 7.2 7.2 7.2 7.2 7.2
Feb-08 15.8 15.8 15.8 15.8 15.8 15.8
Mar-08 11.3 11.3 11.3 11.3 11.3 11.3
Apr-08 2.1 2.1 2.1 2.1 2.1 2.1
May-08 1.5 1.5 1.5 1.5 1.5 1.5
Jun-08 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3
Jul-08 6.4 6.4 6.4 6.4 6.4 6.4
Aug-08 -1.5 -1.5 -1.5 -1.5 -1.5 -1.5
Sep-08 15.5 15.5 15.5 15.5 15.5 15.5
Oct-08 17.0 17.0 17.0 17.0 17.0 17.0
Nov-08 8.4 8.4 8.4 8.4 8.4 8.4
Dec-08 9.9 10.1 9.9 9.7 9.5 9.9
Jan-09 6.0 6.6 6.0 5.4 4.8 6.0
Feb-09 4.0 4.4 3.6 2.8 2.0 4.0
Mar-09 3.0 3.0 2.2 1.5 0.7 3.0
Apr-09 2.0 1.8 1.2 0.6 0.0 2.0
May-09 2.0 1.7 1.3 0.8 0.4 2.0
Jun-09 2.0 1.9 1.5 1.1 0.7 2.0
Quarterly Growth Rates
2008 Q1 9.0 9.0 9.0 9.0 9.0 9.0
2008 Q2 5.3 5.3 5.3 5.3 5.3 5.3
2008 Q3 3.6 3.6 3.6 3.6 3.6 3.6
2008 Q4 12.0 12.0 12.0 12.0 12.0 12.0
2009 Q1 6.4 6.7 6.2 5.7 5.2 6.4
2009 Q2 2.5 2.3 1.7 1.1 0.5 2.5
Annual Growth Rates
2007 5.7 5.7 5.7 5.7 5.7 5.7
2008 7.7 7.7 7.7 7.7 7.7 7.7
2009 3.0 3.0 2.6 2.2 1.8 3.0
Growth From To
2007 Q4 Nov-08 7.6 7.6 7.6 7.6 7.6 7.6
2007 Q4 Dec-08 7.9 7.9 7.9 7.8 7.8 7.9
2008 Q4 Jun-09 4.1 4.2 3.6 3.1 2.5 4.1
  
Nov-08 Jun-09 4.2 4.3 3.7 3.1 2.6 4.2
Dec-08 Jun-09 3.2 3.3 2.6 2.0 1.4 3.2
2008 Q4 Jun-09 4.1 4.2 3.6 3.1 2.5 4.1
  
2007 Q4 2008 Q4 7.7 7.7 7.7 7.7 7.7 7.7
2008 Q4 2009 Q4 3.0 3.0 2.6 2.2 1.8 3.0

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

Last update: March 7, 2014