Federal Reserve staff project moderate recovery in US economic activity over the next two years; Unemployment will remain high
Feb 18th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Minutes released on Wednesday in Washington DC, of the January rate setting FOMC (Federal Open Market Committee) meeting, show that Federal Reserve staff continued to project a moderate recovery in economic activity over the next two years, with economic growth supported by the accommodative stance of monetary policy and by a further waning of the factors that weighed on spending and production over the past two years. The staff also continued to expect that resource slack would be taken up only gradually over the forecast period and unemployment is expected to remain high.