1. Federal Reserve Bank of New York, Second District Project by Rodolfo Capiro Joseph Seifried Timothy F. Geithner President and CEO since November 17, 2003.

2. Small Increase on Real Consumption at the National Level, due to the Stimulus Checks

3. Gross Domestic Product Growth in the 1 st Quarter for the National Economy

4. Price Increases and Inflation Outlook for the National Economy

5. National CPI as the Leader Indicator of Inflation for U.S. Consumers

6. Reduction of Payroll + Rise of Unemployment as Signs of Weakness on the Labor Markets

7. Personal Income Decline From Previous Months attributed to Weak Business Conditions

8. Regional CPI Mostly in Line with the National Average

9. Flat Payroll Employment due to Layoffs on the Financial Sector of the Regional Economy

10. More Subprime Related Writedowns to Come for Security Dealers on the Coming Quarters

11. The Falling Dollar, Cheaper U.S. Goods, Greater Foreign Demand, Boost on Exports

12. Crude Oil Futures over $140 Translates into $4.10 a Gallon of Gas, National Average

13. NO Change on the Federal Funds Interest Rate at 2.00%, Until Signs of Economic Recovery at the Regional and National Level Economic Slowdown would Put Downward Pressure on Prices More Writeoffs on the Coming Quarters Causing Weakness on Financial Markets The Risk of a U.S. and a Global Recession Outweighs Prices Increases