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FED: THE UNEMPLOYMENT RATE IS GOING TO BE BETTER THAN WE THOUGHT

Sam Ro   

FED: THE UNEMPLOYMENT RATE IS GOING TO BE BETTER THAN WE THOUGHT

The Federal Reserve has just concluded its Federal Open Market Committee (FOMC) meeting.

They also just published an update to its economic forecasts.

The good news is that they just lowered their unemployment rate forecasts.

However, they also modestly revised lower their expectations for GDP.

Here's a round up:

  • Unemployment rate
    2013: 7.3-7.5 percent, down from 7.4-7.7 percent
    2014: 6.7-7.0 percent, down from 6.8-7.3 percent
    2015: 6.0-6.5 percent, down from 6.0-6.6 percent
  • GDP
    2013: 2.3-2.8 percent, down from 2.3-3.0 percent
    2014: 2.9-3.4 percent, down from 3.0-3.5 percent
    2015: 2.9-3.7 percent, down from 3.0-3.7 percent

Here are their charts:

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