Fed Chair Ben Bernanke in a speech on Wednesday at the National Press Club in Washington, D.C. said the central bank will be making a significant enhancement in Federal Reserve communications. The Fed will now publish projections of output growth, unemployment, and inflation that would offer a view on how the Fed expects the economy to perform beyond the central bank’s usual three-year forecast horizon. These longer-term projections will inform the public about the rate of economic growth that appear to be sustainable in the long run in the US.
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