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Wednesday, April 27, 2011

Bernanke Press Briefing 2:15 PM ET

by Calculated Risk on 4/27/2011 02:01:00 PM

Forecast added below (GDP down, inflation up, unemployment rate down):



April 2011 Economic projections of Federal Reserve Governors and Reserve Bank presidents
 201120122013
Change in Real GDP3.1 to 3.33.5 to 4.23.5 to 4.3
Previous Projection (Jan 2011)3.4 to 3.93.5 to 4.43.7 to 4.6
Unemployment Rate 8.4 to 8.77.6 to 7.96.8 to 7.2
Previous Projection (Jan 2011)8.8 to 9.07.6 to 8.16.8 to 7.2
PCE Inflaton2.1 to 2.81.2 to 2.01.4 to 2.0
Previous Projection (Jan 2011)1.3 to 1.71.0 to 1.91.2 to 2.0
Core PCE Inflation1.3 to 1.61.3 to 1.81.4 to 2.0
Previous Projection (Jan 2011)1.0 to 1.31.0 to 1.51.2 to 2.0

FOMC definitions:
1 Projections of change in real GDP and in inflation are from the fourth quarter of the previous year to the fourth quarter of the year indicated.
2 Projections for the unemployment rate are for the average civilian unemployment rate in the fourth quarter of the year indicated.