As the economy begins to show some signs of slowing down, The Bond Market Association has adjusted its economic forecasts for the remainder of 2000 and well into 2001. Further Federal Reserve tightening is expected by year-end, followed by a relatively stable year for 2001.

According to William Brown, chief economist at J.P. Morgan & Co., the Association's Economic Advisory Committee expects growth to ease to approximately 3.5%, which is "substantial slowing from the roughly 6% growth we've been averaging for the last three quarters."

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