Federal Reserve FOMC Minutes, 2011-2013 Economic Projections (1/26/2011)

Here are economic projections by the Fed from the FOMC Minutes release on 1/26/2011 (source). Read the full document after the jump. Lets see if they get it right.

Table 1. Economic projections of Federal Reserve Governors and Reserve Bank presidents, January 2011
Percent

VariableCentral tendency1Range2
201120122013Longer run201120122013Longer run
Change in real GDP3.4 to 3.93.5 to 4.43.7 to 4.62.5 to 2.83.2 to 4.23.4 to 4.53.0 to 5.02.4 to 3.0
      November projection3.0 to 3.63.6 to 4.53.5 to 4.62.5 to 2.82.5 to 4.02.6 to 4.73.0 to 5.02.4 to 3.0
Unemployment rate8.8 to 9.07.6 to 8.16.8 to 7.25.0 to 6.08.4 to 9.07.2 to 8.46.0 to 7.95.0 to 6.2
     November projection8.9 to 9.17.7 to 8.26.9 to 7.45.0 to 6.08.2 to 9.37.0 to 8.75.9 to 7.95.0 to 6.3
PCE inflation1.3 to 1.71.0 to 1.91.2 to 2.01.6 to 2.01.0 to 2.00.7 to 2.20.6 to 2.01.5 to 2.0
      November projection1.1 to 1.71.1 to 1.81.2 to 2.01.6 to 2.00.9 to 2.20.6 to 2.20.4 to 2.01.5 to 2.0
Core PCE inflation31.0 to 1.31.0 to 1.51.2 to 2.00.7 to 1.80.6 to 2.00.6 to 2.0
     November projection0.9 to 1.61.0 to 1.61.1 to 2.00.7 to 2.00.6 to 2.00.5 to 2.0


FOMC Minutes 1/26/2011 - FederalReserve.gov


Source: http://www.federalreserve.gov/newsevents/press/monetary/fomcminutes20110126.pdf

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