9/22, 8:21 PM (Source: TeleTrader)
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Fed revises down 2021 US GDP growth forecast

The United States Federal Reserve published on Wednesday its September economic projections.

The expectations for the gross domestic product growth in 2021 were revised down by 1.1 percentage points and now stand at 5.9%. For next year, they were raised by 0.5 pps to 3.8%. The unemployment rate in 2021 is now seen at 4.8%, 0.3 pps higher than the June forecast.

Personal Consumption Expenditures Inflation estimate was lifted by 0.8 pps to 4.2%, while the Core PCE is predicted to end the year at 3.7%, 0.7 pps more than the month before.

Breaking the News / MD