Jun 20, 2012 No Comments ›› Pat Dollard
…and through next year.
(CBS News) NEW YORK – We have been struggling through the weakest economic recovery the U.S. has seen. On Wednesday, the Federal Reserve projected more sluggish growth and high unemployment ahead. The Fed said its last forecast back in April was too optimistic.
The Fed’s projection has changed for next year. It had expected growth in the economy to be as little as 2.7 percent. But on Wednesday, the Fed revised that down to as little 2.2 percent growth. In April, the Fed had also projected unemployment might stay as high as 7.7 percent– it revised that up to 8.0 Wednesday.