The Fed Slashes Its 2011 GDP Projection And Raises Its Inflation Outlook

The Fed’s GDP projection for 2011 has been slashed, inflation expectations have been hiked, but the unemployment situation is improving.

Not entirely surprising, considering the Fed’s policy decision and earlier comments about inflation rising in the U.S.

GDP Projection for 2011: 3.1% to 3.3% range, down from 3.4 to 3.9% before.

Unemployment projection for 2011: 8.4 to 8.7%, down from 8.8 to 8.9%

Inflation expectations for 2011: 2.1 to 2.8%, up from 1.3 to 1.7%

Check out our live coverage of Chairman Bernanke’s press conference here>

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Photo: Federal Reserve

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