WASHINGTON -- The U.S. economy, which enjoyed the fastest growth in a decade in 1994, will probably slow to a more moderate pace in 1995 as higher interest rates finally sink in, according to 25 economists surveyed by The Bond Buyer.

These analysts from major banks and brokerage firms say that it is only a matter of time before businesses and consumers begin to feel the impact of the Federal Reserve's six increases in short-term rates in 1994. And they say additional credit-tightenings are in store during the first half of 1995.

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