Bloomberg: Fed Resigned to Diminished Growth Expectations
MAY 2, 2014 - 7:29 am
Bloomberg reported that Fed chairman Janet Yellen and her colleagues have lowered their sights on how fast the economy needs to expand to meet their goal of cutting unemployment.
Bloomberg noted that the Fed is stressing the importance of preventing the expansion from faltering rather than growth must accelerate from the 2% to 2.5% pace it has generally averaged since the recession ended.
Bloomberg reported that most FOMC participants are forecasting gross domestic product growth of 2.8% to 3% this year and 3% to 3.2% in 2015, according to projections released March 19.
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