UBS has released their 2007 set of economic forecasts. The entire report can be read here. Their major predictions are as follows:

• US economy will grow at 2% in 2007 but will not fall into a recession.
• Construction slowdown will continue to be a drag on the overall economy
• Asian economies will grow more quickly, Europe, more slowly
• The Fed will cut the Federal Funds rate to 4% by the end of 2007

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