1 My involvement with these markets dates back to the early 1990s, when I served as Under Secretary of the Treasury for Finance. Some of you will recall the Salomon Brothers auction bidding scandal that broke in the summer of 1991.
Without an election, and with probably lower interest rates and hopefully less volatile exchange rates (although that is hard to predict) I would expect that conditions in the current fiscal year will be more conducive to growth and so I would expect that we will experience a small rise in the real GDP growth, to five percent or even slightly higher.