THE FED’S FAILURE TO PROJECT UNEMPLOYMENT, AGAIN

[infogram id=”42c5ac3e-8664-4353-8584-de872ba7cab0″ prefix=”NV4″ format=”interactive” title=”2009 FED UNEMPLOYMENT PROJECTIONS 12092021”]

Key Points:

  • In the midst of the Great Recession, the FOMC projected that the employment rate would be between 4.7% and 4.9% in 2009.
  • In fact, the unemployment rate rose to 9.9% in 2009.
Source