Here is a link to the FOMC Minutes of November 2-3, 2010. (pdf)
One item of interest is the section titled “Summary Of Economic Projections.” This section displays and discusses projections and statistics of various measures including GDP, Unemployment Rate, and PCE Inflation. As stated in the FOMC Minutes:
“In conjunction with the November 2–3, 2010, FOMC meeting, the members of the Board of Governors and the presidents of the Federal Reserve Banks, all of whom participate in the deliberations of the FOMC, submitted projections for output growth, unemployment, and inflation for the years 2010 to 2013 and over the longer run.”
These projections show gradual improvements in GDP and Unemployment through 2013. As well, there is a “longer run” projection (post-2013) that shows GDP growth in the 2.4-3.0% range and the unemployment rate at 5.0-6.3%. PCE Inflation is shown at 1.5-2.0%.
I post various economic forecasts because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not agree with many of the consensus estimates and much of the commentary in these forecast surveys.
A Special Note concerning our economic situation is found here
SPX at 1206.07 as this post is written