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TABLE-Federal Reserve economic forecasts
March 20, 2013 / 6:03 PM / 5 years ago

TABLE-Federal Reserve economic forecasts

March 20 (Reuters) - Following are U.S. economic forecasts issued by the Federal Reserve on Wednesday.

(All figures Q4 over Q4, except jobless rate, which is Q4 average, and all figures in percent) APPROPRIATE TIMING OF FIRST FED FUNDS RATE HIKE (NUMBER OF POLICYMAKERS)

MARCH DEC SEPT JUNE APRIL 2013 1 2 3 3 3

2014 4 3 2 7 7

2015 13 13 12 6 4

2016 1 1 1 0 0

CENTRAL TENDENCY FORECASTS COMPARED WITH DEC FORECASTS

Longer

Real GDP 2013 2014 2015 Run

March 2.3 to 2.8 2.9 to 3.4 2.9 to 3.7 2.3 to 2.5

Dec 2.3 to 3.0 3.0 to 3.5 3.0 to 3.7 2.3 to 2.5

Unemployment March 7.3 to 7.5 6.7 to 7.0 6.0 to 6.5 5.2 to 6.0

Dec 7.4 to 7.7 6.8 to 7.3 6.0 to 6.6 5.2 to 6.0

PCE Price Index March 1.3 to 1.7 1.5 to 2.0 1.7 to 2.0 2.0

Dec 1.3 to 2.0 1.5 to 2.0 1.7 to 2.0 2.0

Core PCE index March 1.5 to 1.6 1.7 to 2.0 1.8 to 2.1 N/A

Dec 1.6 to 1.9 1.6 to 2.0 1.8 to 2.0 N/A

RANGE OF FOMC PARTICIPANTS’ PROJECTIONS COMPARED WITH DEC

Longer Real GDP 2013 2014 2015 Run March 2.0 to 3.0 2.6 to 3.8 2.5 to 3.8 2.0 to 3.0 Dec 2.0 to 3.2 2.8 to 4.0 2.5 to 4.2 2.2 to 3.0 Unemployment March 6.9 to 7.6 6.1 to 7.1 5.7 to 6.5 5.0 to 6.0 Dec 6.9 to 7.8 6.1 to 7.4 5.7 to 6.8 5.0 to 6.0 PCE price index March 1.3 to 2.0 1.4 to 2.1 1.6 to 2.6 2.0 Dec 1.3 to 2.0 1.4 to 2.2 1.5 to 2.2 2.0 Core PCE index March 1.5 to 2.0 1.5 to 2.1 1.7 to 2.6 N/A Dec 1.5 to 2.0 1.5 to 2.0 1.7 to 2.2 N/A

Notes:

N/A-not available

Prior forecasts are from the FOMC minutes of the Dec. 11-12 meeting.

The U.S. central bank has said the longer-run projections for growth and unemployment may be interpreted as estimates of rates that appear sustainable in the long run.

The long-run inflation projection may be interpreted as the rate Fed officials see as consistent with their dual objectives of maximum sustainable employment and price stability.

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