Fed Officials Lower Projection for Unemployment Rate in 2014
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Federal Reserve officials raised their assessment of the outlook for the job market, predicting the unemployment rate will fall as low as 6.3 percent by the end of next year, compared with a September projection of 6.4 percent to 6.8 percent.
The outlook is part of economic projections released today after a two-day meeting by the Federal Open Market Committee in Washington. The committee decided to cut the pace of its monthly bond buying to $75 billion from $85 billion, taking their first step toward unwinding their unprecedented monetary stimulus.