Jul 23
On Monday, Federal Reserve Chairman Ben Bernanke, delivered the Monetary Policy Report to Congress. The highlight of the report was the Chariman’s characterization of the economic outlook as “unusually uncertain.” While Bernanke still anticipates growth in the economy, the rate of growth is now expected to be slower than previously thought.
The Fed is forecasting GDP growth of 3 to 3.5 percent in 2010, and 3.5 to 4.5 percent in 2011 and 2012. The unemployment rate is expected to decline to between 7 and 7.5 percent by the end of …
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