Projected CPI inflation in 2007 is also supported by the preserved inflation expectations of market players (See consensus forecast in Graph 11) and low upward pressure on administered prices along with the scrapped government plan to hike the prices of strategic administered groups of goods.
A second Bank of the United States met a similar fate in 1836 when President Andrew Jackson vetoed a bill to extend its life (figure 4). These two short-lived experiments illustrate a theme in American history--of Americans from different regions holding distinct views about the structure and development of the financial system.