8 Both upside and downside risks to the growth scenario are present, with upside risks prevalent. These include the possibility of faster-than-expected U.S. economic recovery and positive effects from structural reforms implemented during the last couple of years to enhance productivity in many sectors of the economy. On the downside, less favorable international conditions could dampen activity.
But, we are also working on these issues more directly on a number of fronts as we are very concerned about the high rate of mortgage foreclosures.