As I mentioned on Monday, the Fed released its Open Market Committee minutes yesterday, a day earlier than usual in deference to the holiday. The key elements of their forecast:
* The U.S. economy is expected to expand by around 2.5 percent to 3.5 percent in 2010. This is up from the Fed's June estimate of 2.1 percent to 3.3 percent.
* Core inflation is expected to rise 1.25 percent in 2010, the same prediction the Fed made in June. That would be an increase from an inflation rate so far in 2009 of minus 0.2 percent.
* The unemployment rate is expected to average between 9.3 percent and 9.7 percent by the fourth quarter of 2010. The earlier forecast had seen unemployment between 9.5 percent and 9.8 percent. That's only a slight improvement from the current rate of 10.2 percent, though, and suggests that unemployment will be a problem for far longer than any of us would like.
No comments:
Post a Comment