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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
Baca Juga :   Merkel: Uni Eropa Harus Bergerak Mendekati Persatuan Politik

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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