Strong prospects for Financial Services in 2005
Off to solid start; prospects are improving
Interest rates remain historically low
- Federal Reserve is continuing measured pace of interest rate hikes; quarter-point rise likely when Fed meets at end of June
- Expect Fed funds rate of about 4.0-to-4.25% by year-end
- Inflation is under control
S&P𠏋 chief economist expects U.S. GDP to grow by 3.5% this year