The Fed cuts US economy growth estimate for 2011 and ups unemployment

Wednesday, November 24th 2010 - 00:54 UTC

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The Federal Reserve has cut its 2011 growth forecast for the US economy, newly released minutes of its last policy committee meeting reveal. The Fed expects growth of 3-3.6% next year, down from its previous 3.5-4.2% estimate. It also forecasts higher unemployment and lower inflation than before. Read full article

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xbarilox
“Thomas Hoenig of the Kansas City Federal Reserve Bank voted against pumping more money into the economy.” The only one with a well-functioning brain.

http://www.bloomberg.com/news/2010-11-24/bernanke-goal-of-optimal-employment-elusive-with-profits-bringing-no-jobs.html
Nov 24th, 2010 - 08:50 pm - Link - Report abuse 0
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