Why monetary policy is hard

We are in October 2014, and unemployment already down to 5.9%, a full percentage point below the March 2013 projections.

According to the most recent projections available at the time of this response (March 2013) most FOMC meeting attendees do not expect the unemployment rate to reach the 6.5% threshold until 2015. The central tendency of the projections for the unemployment rate ranges from 7.3 to 7.5% at of the end of 2013, 6.7 to 7.0% at the end of 2014, and 6.0 to 6.5% at the end of 2015.

via SF Fed | Recently the Federal Open Market Committee...

About mkevane

Economist at Santa Clara University and Director of Friends of African Village Libraries.
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