Longer Run FOMC Summary of Economic Projections for the Civilian Unemployment Rate, Central Tendency, High

2014-06-18: 5.5 Fourth Quarter, Percent (+ see more) 
Not Seasonally Adjusted, UNRATECTHLR, Updated: 2014-06-18 1:21 PM CDT
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The longer-run projections are the rates of growth, inflation, and unemployment to which a policymaker expects the economy to converge over time in the absence of further shocks and under appropriate monetary policy. Because appropriate monetary policy, by definition, is aimed at achieving the Federal Reserve's dual mandate of maximum employment and price stability in the longer run, policymakers' longer-run projections for economic growth and unemployment may be interpreted, respectively, as estimates of the economy's longer-run potential growth rate and the longer-run normal rate of unemployment; similarly, the longer-run projection of inflation is the rate of inflation which the FOMC judges to be most consistent with its dual mandate in the longer-term.

Projections for the unemployment rate are for the average civilian unemployment rate in the fourth quarter of each year. Each participant's projections are based on his or her assessment of appropriate monetary policy. The range for each variable in a given year includes all participants' projections, from lowest to highest, for that variable in the given year; the central tendencies exclude the three highest and three lowest projections for each year. This series represents the high value of the central tendency forecast established by the Federal Open Market Committee.

Digitized originals of this release can be found at http://fraser.stlouisfed.org/publication/?pid=677.

Source: Federal Reserve Bank of St. Louis

Source: Federal Open Market Committee (FOMC), Federal Reserve Board Members and Federal Reserve Bank Presidents

Release: Summary of Economic Projections

Growth Rate Calculations | US recession dates

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(a) Longer Run FOMC Summary of Economic Projections for the Civilian Unemployment Rate, Central Tendency, High, Fourth Quarter, Percent, Not Seasonally Adjusted (UNRATECTHLR)
The longer-run projections are the rates of growth, inflation, and unemployment to which a policymaker expects the economy to converge over time in the absence of further shocks and under appropriate monetary policy. Because appropriate monetary policy, by definition, is aimed at achieving the Federal Reserve's dual mandate of maximum employment and price stability in the longer run, policymakers' longer-run projections for economic growth and unemployment may be interpreted, respectively, as estimates of the economy's longer-run potential growth rate and the longer-run normal rate of unemployment; similarly, the longer-run projection of inflation is the rate of inflation which the FOMC judges to be most consistent with its dual mandate in the longer-term.

Projections for the unemployment rate are for the average civilian unemployment rate in the fourth quarter of each year. Each participant's projections are based on his or her assessment of appropriate monetary policy. The range for each variable in a given year includes all participants' projections, from lowest to highest, for that variable in the given year; the central tendencies exclude the three highest and three lowest projections for each year. This series represents the high value of the central tendency forecast established by the Federal Open Market Committee.

Digitized originals of this release can be found at http://fraser.stlouisfed.org/publication/?pid=677.

Longer Run FOMC Summary of Economic Projections for the Civilian Unemployment Rate, Central Tendency, High
   

  

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