ECONOMY

Fed’s Broaddus Says Economy Grew 4.25% in ‘94: Richmond, Va., Federal Reserve Bank President J. Alfred Broaddus’ estimate suggests that growth in the fourth quarter may have been stronger than expected. In his Richmond speech to a forum of Robert Morris Associates, Broaddus provided no estimate for fourth-quarter growth. To reach a yearly rate of 4.25%, quarterly growth would have to have been about 5.5%, said Mike Casey, an international economist at Maria Fiorini Ramirez Inc. in New York. The Commerce Department’s first official estimate of fourth-quarter growth will be released Friday.