Fed Officials Lower Projection for Unemployment Rate in 2014-2016

[Robbie3000]

Federal Reserve officials raised their assessment of the outlook for the job market, predicting the unemployment rate will fall as low as 6.3 percent by the end of next year, compared with a September projection of 6.4 percent to 6.8 percent.

The outlook is part of economic projections released today after a two-day meeting by the Federal Open Market Committee in Washington. The committee decided to cut the pace of its monthly bond buying to $75 billion from $85 billion, taking their first step toward unwinding their unprecedented monetary stimulus.

FOMC participants also predicted the unemployment rate would be 5.8 percent to 6.1 percent in the fourth quarter of 2015, and 5.3 percent to 5.8 percent at the end of 2016.

In September, they projected that the jobless rate would fall to 5.9 percent to 6.2 percent in the fourth quarter of 2015, and to 5.4 percent to 5.9 percent at the end of 2016.

A majority of FOMC participants -- 12 out of 17 -- expect the first increase in the main interest rate in 2015. Two projected the first rate increase in 2014, while three forecast an initial move in 2016.

Fed officials’ median estimate for the federal funds rate at the end of 2015 was 0.75 percent, and 1.75 percent for the end of 2016.

Central bankers forecast an expansion of 2.8 percent to 3.2 percent next year, according to their central tendency estimates, which eliminates the three highest and three lowest projections. Fed governors and the 12 reserve bank presidents estimated the economy would grow 3 percent to 3.4 percent in 2015, and 2.5 percent to 3.2 percent in 2016.

Fed officials project the personal consumption expenditures price index to rise 1.4 percent to 1.6 percent next year; 1.5 percent to 2 percent in 2015 and 1.7 percent to 2 percent in 2016.

Inflation measured by the PCE index rose 0.7 percent for the 12-month period ended in October, more than a percentage point below the central bank’s 2 percent target.

How do we score Obeezy's presidency if the unemployment rate drops to around 5% by 2016?

 

[Kritic]

on paper or in the real world..

 

[Robbie3000]

on paper or in the real world..

By unemployment measures that we have been using since fukking forever.

Or should we come up with new employment metrics for Obama?

 

[Kritic]

By unemployment measures that we have been using since fukking forever.

Or should we come up with new employment metrics for Obama?

we have to get rid of the old system cause unemployment can only keep rising unless they plan on wiping out part of the population.

 

[Robbie3000]

we have to get rid of the old system cause unemployment can only keep rising unless they plan on wiping out part of the population.

Actually unemployment is falling. Now if you are arguing for a new way to measure unemployment that is a different argument. But let's not bring it up now just cause Obama is president.

 

[Richard Wright]

Actually unemployment is falling. Now if you are arguing for a new way to measure unemployment that is a different argument. But let's not bring it up now just cause Obama is president.

Dont be ignorant of the times. the only reason unemployment has been falling is a drop is labor participation. People are giving up on the search. And the majority of jobs post recession are min wage.

Thats bigger than though

 

[88m3]

 

[Robbie3000]

Dont be ignorant of the times. the only reason unemployment has been falling is a drop is labor participation. People are giving up on the search. And the majority of jobs post recession are min wage.

Thats bigger than though

We are going by the official stats though. The same same stats we have been going by for the past 50 plus years.

If you want to argue otherwise, make a case.

 

[Richard Wright]

We are going by the official stats though. The same same stats we have been going by for the past 50 plus years.

If you want to argue otherwise, make a case.

The "official stat" is bullshyt by not counting discouraged workers. The current job market is a joke. The 1 percent won the recovery

 

[88m3]

The "official stat" is bullshyt by not counting discouraged workers. The current job market is a joke. The 1 percent won the recovery

Yay we agree!

 

[Domingo Halliburton]

Actually unemployment is falling. Now if you are arguing for a new way to measure unemployment that is a different argument. But let's not bring it up now just cause Obama is president.

these guys are right. There are legitimate beefs with the way they measure unemployment whether your boyfriend Obama is in office or not and isn't necessarily a criticism of him.