“The Bush administration has been alerted that Chairman Alan Greenspan will guide the Federal Reserve Board to a small interest rate boost before the presidential election, and President Bush is reported to be satisfied.

According to these sources, the central bank this fall will raise the federal funds (interbank lending) rate from the current historic low of 1 percent up to 1.25 percent. The Fed is expected to push the rate to 1.5 percent later this year after the election and up to 2 percent early next year.”