Yesterday, the Fed cut its forecast for growth in 2008.
Projected range of percentages in 2008 for:
Real GDP growth: 1.8% - 2.5% (in June, they forecast 2.5-2.75%)
Unemployment rate: 4.8% - 4.9%
Personal Consumption Expenditure inflation: 1.8% - 2.1%
The 3-year forecast, indicates that the Fed officials see a 1.6% - 1.9% inflation rate as a longer-term goal.
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