FOMC Minutes: Staff Predicts Mild Recession; Additional Increases in Fed Funds Rate "Appropriate"
Calculated Risk
JULY 5, 2023
Real GDP growth over 2024 and 2025 was projected to be below the staff's estimate of potential output growth. The unemployment rate was forecast to increase this year, peak next year, and remain near that level through 2025. In 2025, both total and core PCE price inflation were expected to be close to 2 percent.
Let's personalize your content