Richmond, Va., Federal Reserve Bank Predicts Slight Decline in Growth.(Knight Ridder/Tribune Business News)

Knight Ridder/Tribune Business News, January, 2000 by Hazard, Carol

Jan. 11--The U.S. economy will continue to expand without slipping into a recession this year, the president of the Federal Reserve Bank of Richmond said yesterday.

However, economic growth is likely to decelerate modestly from 4 percent to about 3 percent, said J. Alfred Broaddus Jr.

His outlook calls for a "very soft landing." With no sharp deceleration in sight, it would hardly be a crash landing, he said.

"Labor markets are expected to remain about as tight as they are now, with the unemployment rate steady at a little over 4 percent." Broaddus shared his forecast at a dinner meeting of the West Richmond Businessmen's Association at the Commonwealth Club.

He said the Richmond economy will continue to grow this year, too,...

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