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Fed's Ugly Forecasts

Over the past two months, the Fed's FOMC has:

  • Reduced forecasts for growth in 2012, 2013, and 2014
  • Increased expectations of unemployment in 2012, 2013, and 2014
  • Reduced inflation expectations (from a level already below the 2% target) in 2012, 2013, and 2014

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