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FEDERAL RESERVE BANK OF ST. LOUIS

chart I

Velocity

Ratio

Annual Data

1

,___

G$P/Hl

  • -

    y

~,r

3

2 1946 48

50

52

54

56

I

58

III 60

62

Ill 64

66

III 68

chart 2

Inflation and Mi-Trend Growth

—l 194850

52

54

56

58

60

62

64

66

68

8

10

III

III

III

II

2

70

72

74

16

78

80

82

84

1986

AUGUST/SEPTEMBER 1987

Ratio 8

1

6

S

4

3

Ratio II

9

1

5

y

/

/

72

74

16

78

80

82

—1 84 1Q86

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