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The Fed’s improved economic projections see US GDP fully rebounding by year-end 2021

Federal Reserve

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The Federal Reserve revealed new economic estimates on Wednesday that see the US economy staging a healthy recovery through 2021. 

Federal Open Market Committee members expect US gross domestic product to contract 2.4% in 2020 before climbing 4.2% in 2021, according to projections published Wednesday. The forecast signals the country will fully recover to pre-pandemic levels by the end of next year. Growth is seen reaching 3.2% in 2022 and slowing further to 2.4% in 2023.

The committee’s median estimate for 2020 unemployment reached 6.7%, implying December’s nonfarm payrolls report won’t bring an improvement to the rate. The details ⇒

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