Fed: FOMC forecasts slower GDP growth in 2012, appropriate policy firming

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FXstreet.com (San Francisco) - The FOMC's latest Summary of Economic Projections shows that participants expect Real Gross Domestic Product ( GDP ) to slow in 2012 relative to its June forecast, but with later improvements.

The Unemployment rate and inflation forecasts have changed slightly, with the central bank forecasting the jobless rate to decline to levels within the 7.6% - 7.9% range in 2013, and to fall within a range of 6.7% - 7.3% in 2014, from 8.1% in August.

"To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens," the Federal Reserve said in its monetary policy statement earlier today.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



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