The Federal Reserve, as expected, left interest rates unchanged on Wednesday while raising forecasts for economic growth and lowering them for unemployment next year.
“Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low.
Inflation remains elevated.”The central bank updated its forecasts for economic growth, unemployment and inflation.
The GDPNow estimate from the Federal Reserve Bank of Atlanta is now pegging economic growth in the third quarter at 4.9%.
But it would likely curb economic growth at a time when the Fed’s policies have restricted credit and other government stimulus is waning.
Persons:
“, ” Powell, ”, Powell, Andrew Patterson, Ruslan Lienkha, Victor Li, Jeff MacDonald, Joe Biden, Donald Trump
Organizations:
Federal Reserve, Fed, ”, Villanova University, Federal Reserve Bank of, GOP
Locations:
Saudi Arabia, Russia, U.S, Federal Reserve Bank of Atlanta