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| USA: The Fed provides a drop in GDP for all of 2009 | |||||
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But despite this, "the economic outlook (the U.S.) should remain poor for some time", says in the document. Without going to give figures, the Fed acknowledges that he reviewed in "sharp decline" its previous growth forecast made in November. The Fed then expected a GDP growth of between 0.2% and 1.1% over the year. According to the minutes, GDP in the first world economy should "fall in 2009 as a whole and progress at a pace slightly above its potential growth in 2010, years for which members of the FOMC expect a" moderate ". Noting that the extension of the crisis throughout the world will not allow U.S. to find new growth through exports, officials of the central bank believed that "the GDP Back in the first half much more strongly than previously planned, before picking up slowly during the remainder of the year. " They expect that "the stimulation of monetary policy" by the Fed and fiscal policy announced by President-elect Barack Obama "have gained from the turmoil and the financial markets has begun to fall." According to a source close to the Democrats, Mr. Obama and his economic team prepare a plan to boost the amount of which could reach 775 billion dollars. The plan was announced as the first of its priorities and those of the new Congress convened Tuesday for the first time. The United States officially entered into recession in December 2007. The gross domestic product of the country began to recede in the summer, 0.5% annual rate over the three previous months. In late December, the White House were told to expect a fourth quarter even worse, accepting the forecasts of economists agree on this point. The minutes of the FOMC meeting in December show that the officials of the central bank worried as the price level, expecting a slowdown "considerable" in core inflation (excluding food and energy ) in 2009, and found that it could continue to decline in 2010. Without going so far as to talk of "deflation", widespread phenomenon of falling prices that rekindles the cruel memories of the Great Depression of 30 years, "several participants" expressed concern "that inflation could fall too low" for a time. " They hoped that the central bank remains particularly vigilant on the subject. |
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