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Fed Lowers 2012 Growth Forecast

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  • Description

    FBN's Peter Barnes breaks down the Fed's outlook for the economy.

  • Duration 2:01
  • Date

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First -- -- -- Washington Peter Barnes and breaking news.

That's right direction -- we have the latest economic projections now from the Federal Reserve and -- just.

Very slight changes from the previous forecast in September let's run through them starting with the the GDP forecast the fed is now.

Projecting that GDP for the year point -- -- end up around one point 8% back at September it was projecting one point 9% growth.

And then and -- thirteen it's these two point seven.

Present growth then.

Getting growth getting above 3% reliably consistently and act and 4014 and 2015.

Alec the unemployment rate it sees it slightly.

Better just a little bit better compared to the September projections.

Now it sees unemployment ending up in -- -- about seven point 9% -- have previously was projecting about eight point 1%.

And -- -- seven point six about seven point 6% and 2013.

And then getting down.

Consistently under 7%.

Up by 2015.

On inflation.

That looks slightly better in this new forecast of one point 7%.

For 2012 compared to the September forecast of one point date and then one point 71 point 81 point nine.

Going out to 2015 so under 2% the Fed's official target and then finally we have this a handy dandy new.

Chart that they've got started getting us which is a poll of the nineteen members of the FOMC.

And the up and their thoughts on the appropriate timing.

A policy firming when the -- that should start to tighten.

Monetary policy and that's.

Very little change from the September.

Chart two members believe a policy tightening should begin in.

Next year point thirteen three believe it should begin in point fourteen.

The bet the majority thirteen of them.

Believe it should start in -- fifteen and one believes that the pension wait until 2016.

Actually entering.

-- thank you very much.

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