Federal Reserve Forecast Better Unemployment Rate This Year

Federal Reserve Forecast Better Unemployment Rate This Year

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Federal Reserve people are concerned about higher inflation rate this year, but they are also optimist with better employment rate until the end of the year. Last Wednesday the Fed released a recent forecast showing an economic growth of 3.1 percent to 3.3 percent for this year. Earlier this year they have speculated a much higher rate of 3.9 percent growth. This downward movement is attributed to high energy costs prevailing in the international markets.
By the end of the year the Feds expects that unemployment rate will be down to 8.4 percent and 8.7 percent. This figures are significantly lower that lasts years data that averages to 9.8 percent. High energy cost will be directly attributed to the rising consumer inflation rate which is projected to be 2.1 percent to 2.8 percent.

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