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FOMC Economic Projections: 2013 GDP growth estimate is cut a hair to 2.3-2.6% from 2.3-2.8%, but...

FOMC Economic Projections: 2013 GDP growth estimate is cut a hair to 2.3-2.6% from 2.3-2.8%, but is boosted in 2014 to 3-3.5% from 2.9-3.4%. The unemployment rate forecast for 2013 is trimmed to 7.2-7.3% from 7.3-7.5% and in 2014 to 6.5-6.8% from 6.7-7%. Core CPI expectations are cut to 1.2-1.3% this year from 1.5-1.6% and in 2014 to 1.5-1.8% from 1.7-2%. 14 out of 19 FOMC members see rate hikes beginning in 2015 (4 see hikes before then).
Comments (2)
  • GaltMachine
    , contributor
    Comments (1161) | Send Message
     
    The most fascinating fact about the FED and its forecasts is that they have never in history forecast a recession and yet somehow we have had them :)
    19 Jun 2013, 02:20 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    Correct analysis Galtmachine! Greenspan didn't see the bubble in 2000 but we had irrational exuberance in 1996. The FED HEADS aree nothing more than University professors. They're given way too much credit for their smartsd
    19 Jun 2013, 02:40 PM Reply Like
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