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Wednesday, April 27, 2011

Federal Reserve Lowers USA GDP Projection for 2011 (Charts) *Unemployment rate estimate lowered for 2011*

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Federal Reserve Building 1937


Federal Reserve Summary of Economic Projections
"The economic recovery is proceeding at a moderate pace and overall conditions in the labor market are improving gradually."
(FOMC April 27, 2011)

FOMC Statement The related Federal Open Market Committee (FOMC) Statement was released April 27, 2011 and reviewed in a previous post, Federal Reserve: "USA Economic Recovery Proceeding at a Moderate Pace" (GDP Chart) "Labor market improving gradually". This post reviews the Summary of Economic Projections, which is an addendum to the minutes, and were also released on April 27, 2011.

Summary of Economic Projections
● GDP projection lowered for 2011 to 3.1% - 3.3% range
● Unemployment Rate projection lowered for 2011 to 8.4% - 8.7% range
● Inflation projection raised for 2011 to 2.1% - 2.8% range

GDP Projection (Summary of Economic Projections)
Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents
The central tendency excludes the three highest and three lowest projections for each variable in each year.


Unemployment Rate Projection (Summary of Economic Projections)
Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents
The central tendency excludes the three highest and three lowest projections for each variable in each year.


Inflation Rate Projection (Summary of Economic Projections)
Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents
The central tendency excludes the three highest and three lowest projections for each variable in each year.





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