Fed: Slower Growth, Higher Unemployment in 2012 | CNSNews.com: (CNSNews.com) – The Federal Reserve projected that slower economic growth and higher unemployment would continue for the remainder of the year Wednesday, revising its forecasts downward from its April projections.
The Fed projected that GDP growth would be between 1.9 to 2.4 percent in 2012, a downward revision from its April projection of growth between 2.4 to 2.9 percent.
Unemployment is now expected to be worse than was projected in April, with the unemployment rate for 2012 now thought to be between 8.0 to 8.2 percent, up from the 7.8 to 8.0 percent the Fed forecast in April.
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