'Fed lowers economic expectations for 2011'

Top Federal Reserve officials expect the unemployment rate to remain around nine percent at the end of next year and eight percent at the end of 2012, according to internal forecasts that drove the central bank to take new efforts to boost the economy three weeks ago.The 18 top leaders of the central bank expect the U.S. economy to grow at a 3 to 3.6 percent pace next year, which by their calculations will be enough to bring joblessness, currently at 9.6 percent, down to the 8.9 to 9.1 percent range in late 2011.diminished economic expectations that shaped the Fed leaders' decision to buy $600 billion of Treasury bonds in a bid to lower long-term interest rates and encourage growth. Those forecasts are supposed to assume "appropriate" monetary policy, meaning that the continued high unemployment is expected even with the new measures in place.

genre new,world,money
source http://voices.washingtonpost.com/political-economy/2010/11/fed_officials_expect_9_percent.html?hpid=topnews
by Neil Irwin