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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 664 |
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"The central tendency of the forecasts of real GDP growth made by the members of the Board of Governors and the Federal Reserve Bank presidents is 3-3/4 percent to 4 percent over the four quarters of 2005. The civilian unemployment rate is expected to average about 5-1/4 percent in the fourth quarter of 2005...
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The civilian unemployment rate is expected to average about 5-1/4 percent in the fourth quarter of 2005. For 2006, the policymakers project real GDP to increase about 3-1/2 percent, and they expect the unemployment rate to edge down to between 5 percent and 5-1/4 percent. With regard to inflation, FOMC participants project that the chain-type price index for personal consumption expenditures excluding food and energy (core PCE) will increase between 1-1/2 percent and 1-3/4 percent both this year and next--about the same as the 1...
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General points of the essay
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