Fed projections show it sees smaller economic hit in 2020 than previously expected

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Fed projections show it sees smaller economic...
 © CyprusMail 2020
The Federal Reserve signaled on Wednesday it expects the U.S. economic recovery from the coronavirus crisis to accelerate with unemployment falling faster than the central bank expected in June.

In new economic projections released along with the U.S. central bank’s latest policy statement, Fed policymakers at the median see economic growth dropping by 3.7 per cent this year, an improvement from the 6.5 per cent drop projected in June.

The Fed also expects that the unemployment rate, which has improved faster than officials foresaw in June, will continue to drop, with policymakers at the median...


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Fed projections show it sees smaller economic hit in 2020 than previously expected


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