The economic forecasts issued by the Federal Reserve Committee for the month of December 2019 are as follows:
The committee lowered interest rates for 2019 and 2020 from 1.9 to 1.6
Meanwhile, the interest outlook was lowered during 2021 and 2022 to 1.9 and 2.1, respectively.
The committee maintained its growth forecast for 2020 at 2.0%.
The committee maintained its growth forecast for 2019 at 2.2%.
The Committee reduced the unemployment rates for 2019 from 3.7% to 3.6%.
Unemployment fell to 3.5% for 2020.
The committee kept inflation expectations for 2019 and 2020 at 1.5% and 1.9, respectively.
The committee reduced core inflation expectations in 2019 from 1.9% to 1.6%, but kept core inflation expectations unchanged at 1.9% during 2020.