[infogram id=”cfc77db9-7010-4cde-9ab4-98d9e32f0f7f” prefix=”5Wn” format=”interactive” title=”2008 FED UNEMPLOYMENT PROJECTIONS 12092021″]
Key Points:
- In October 2007, as the Great Recession was about to begin, the FOMC projected that the employment rate would be between 4.8% and 4.9% in 2008.
- In fact, the unemployment rate rose to 7.8% in 2008.