Fed Lowers 2011 GDP Growth Estimate, Raises Core Inflation Expectation
Apr 27, 2011
The US Federal Reserve on Wednesday lowered its expected rate of growth for the US economy in 2011, citing a slower pace than anticipated for the start of the year. In an unprecedented press conference after a meeting of the Fed's Board of Governors, Chairman Ben Bernanke said that the employment picture appears to be better than expected. January's unemployment rate forecast of 8.8- 9% was lowered to 8.4-8.7% for the end of the year.
No comments:
Post a Comment