There Will Be Growth, But It Will Be Slower, Fed Says
The good news is that Federal Reserve policymakers think the economy will keep growing through next year and into 2012.
The bad news is that they've lowered their growth forecasts for 2011 and think the nation's jobless rate will stay uncomfortably high.
As the Associated Press says, the central bankers are "more pessimistic."
You can read for yourself what the Fed is thinking here (though much of it is in "Fed speak," we have to say). The key chart is on page 10, where you'll see that they're now thinking the unemployment rate will still be around 9% (vs. 9.6% now) through next year. Here's a screengrab of part of that graphic:
Copyright 2020 NPR. To see more, visit https://www.npr.org.