GDP projections of Federal Reserve Governors and Reserve Bank presidents | |||
---|---|---|---|
Change in Real GDP1 | 2012 | 2013 | 2014 |
Sept 2012 Projections | 1.7 to 2.0 | 2.5 to 3.0 | 3.0 to 3.8 |
June 2012 Projections | 1.9 to 2.4 | 2.2 to 2.8 | 3.0 to 3.5 |
GDP projections have been revised down for 2012, and revised up for 2013 and 2014.
The unemployment rate was at 8.1% in August, and the projection for 2012 is unchanged. The projection for 2014 was revised down.
Unemployment projections of Federal Reserve Governors and Reserve Bank presidents | |||
---|---|---|---|
Unemployment Rate2 | 2012 | 2013 | 2014 |
Sept 2012 Projections | 8.0 to 8.2 | 7.6 to 7.9 | 6.7 to 7.3 |
June 2012 Projections | 8.0 to 8.2 | 7.5 to 8.0 | 7.0 to 7.7 |
The forecasts for overall and core inflation show the FOMC is still not concerned about inflation.
Inflation projections of Federal Reserve Governors and Reserve Bank presidents | |||
---|---|---|---|
PCE Inflation1 | 2012 | 2013 | 2014 |
Sept 2012 Projections | 1.7 to 1.8 | 1.6 to 2.0 | 1.6 to 2.0 |
June 2012 Projections | 1.2 to 1.7 | 1.5 to 2.0 | 1.5 to 2.0 |
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