FEDERAL RESERVE DOWNGRADES ECONOMIC FORECASTS

FEDERAL RESERVE DOWNGRADES ECONOMIC FORECASTS

by Matthew Boesler

UPDATE: The FOMC's updated macroeconomic projections are out.
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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.
Here is a link to the full report > http://www.businessinsider.com/fomc-economic-projections-2012-12?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29