BOSTON - The economy has had its ups and downs this year, but the general pattern - moderate growth - is likely to continue into 1994, according to the president of the Philadelphia Fed.

The economy has followed a saw-toothed pattern this year," Edward G. Boehne said. "But when you cut through the highs and lows, you see a pattern of moderate growth with subdued inflation."

Speaking at Boston College, Mr. Boehne said the growth rate |is likely to remain about 3% into 1994, and inflation should be about 3% also."

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