Federal Reserve policymakers expect the U.S. economy to grow as much as 3.9 percent this year, slightly higher than earlier projections, according to minutes of the central bank’s last policy meeting.
The officials believe the recovery is on “firmer footing,” the minutes say, but they remain concerned that the pace of growth isn’t enough to put a serious dent in the country’s nine percent jobless rate. They expect high unemployment to persist at least through the end of 2013.
The minutes of the Jan. 25 meeting, released Wednesday, also show that Federal Reserve members unanimously support continuing its ambitious program, launched in November, to boost the economy by purchasing $600 billion of Treasury bonds.
Full Story: Political Economy – Fed raises projection on economic growth to 3.9% in 2011