Fed releases first revamped economic projections

The Federal Reserve on Tuesday published the first of its revised economic forecasts as part of the minutes of the 31 October rate-setting meeting.

The projections reveal that Federal Reserve governors and Reserve Bank presidents believe growth will be between 1.6% and 2.6% in 2008. The International Monetary Fund predicted 1.9% growth next year for the US in its World Economic Outlook, published in October.

Core inflation is estimated to be between 1.7% to 2% next year, with headline inflati

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