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Fed Revises Economic Growth Forecast for 2011

Posted on 2/17/2011

The Federal Reserve now predicts that the economy will grow between 3.4 percent and 3.9 percent this year, an improvement from its November forecast of between 3 percent and 3.6 percent, according to projections released as an addendum to the Jan. 25-26 Federal Open Market Committee meeting minutes released yesterday. The central bank also expects the jobless rate to be 8.8 percent to 9 percent this year, only slightly less than the November estimate of 8.9 percent to 9.1 percent. Read the FOMC minutes.

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