FEDERAL RESERVE DOWNGRADES ECONOMIC FORECASTS

UPDATE: The FOMC’s updated macroeconomic projections are out.

2013 GDP growth forecasts were lowered to a range of 2.3-3.0 percent, down slightly from September’s estimate of 2.5-3.0 percent.

2012 GDP growth forecasts were lowered to a range of 1.7-1.8 percent from 1.7-2.0 percent in September.

2014 GDP growth forecasts were lowered to a range of 3.0-3.5 percent from September’s estimate of 3.0-3.8 percent.

15 of the 19 Fed officials see rates below 1 percent in 2014, while 10 of 19 see rates at 1 percent or higher in 2015.

 

Fed members see 2013 GDP 2.3-3.0%

By   || December 12, 2012 at 19:00 GMT

  • Compares to 2.5-3.0% in Sept
  • 2014 growth seen 3.0-3.5% vs 3.0-3.8% prior
  • Unemployment at 7.8-7.9% vs 8.0-8.2% in Sept
  • 15 of 19 officials see Fed funds rate below 1% in 2014
  • 10 of 19 officials see it at 1% or higher in 2015
  • PCE inflation in 2013 seen 1.3-2.0% vs 1.6-2.0% in Sept

Normally forecasts tend to get tighter over time but these ones are widening.

About Reza File

To contact the editor responsible for this story : Reza Aswin at PT. ABC Future Indonesia email : rz_aswin@yahoo.com

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