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Forecasters Gauge Prospects For Economic Recovery

For release: August 22, 2001
Contact: Marilyn Wimp (215) 574-4197

MEDIA ADVISORY

Is the economy going to turn around? Find out what professional forecasters have to report when the Federal Reserve Bank of Philadelphia releases its Survey of Professional Forecasters (SPF) at 10 a.m., E.D.T., Thursday, Aug. 23. The survey will be distributed on the Bank's web site at http://www.philadelphiafed.org/econ/spf/index.html and over PR Newswire.

Will inflation start rising? Will unemployment climb? Each quarter, the Philadelphia Fed's Research Department surveys more than 30 professional forecasters on their predictions for long-term inflation expectations, unemployment, CPI, interest rates, real GDP, government spending, net exports and other economic variables. For an interview with one of the Bank's economists about the survey, contact Marilyn Wimp at (215) 574-4197 before the release.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey and Delaware by supplying cash to these banks and thrifts, supervising them, wiring money and securities nationwide, collecting and processing nearly 5 million checks daily, as well as participating in setting monetary policy.

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Media Contacts

Marilyn Wimp, ABC E-mail
Manager of Media Relations
(215) 574-4197
(267) 254-4555 (cell)

Daneil Mazone E-mail
Media Relations Representative
(215) 574-7163
(267) 535-1808 (cell)