The US Fed Changed the Forecast for GDP and Unemployment in the Country
OREANDA-NEWS. The US Federal Reserve System has improved forecasts for unemployment and gross domestic product (GDP), and also retained its forecast for inflation in 2020. This will be reported on the regulator’s website.
The forecast for a fall in GDP in the outgoing year has been changed compared to September: 3.7 instead of 2.4 %. Growth forecast for 2021 was revised from 4 % to 4.2 %.
In addition, changes were made to the data on unemployment. So, if the forecast was 7.6 % in September, now it has dropped to 6.7 %. For the next year, it changed from 5.5 % to 5 %.
At the same time, the inflation forecast for 2020 did not change and remained at the level of 1.2 %, and for the next year it was corrected from 1.7 % to 1.8 %. The forecast for core inflation (excluding seasonal fluctuations) for the current year was lowered to 1.4 % from 1.5%, and for 2021 it was raised to 1.8 % from 1.7 %.