FOMC participants now expect GDP to come in between 2% and 2.3% this year, down from 2.3% to 2.6% last time, and the unemployment rate to come in at 7.1% to 7.3%, down one-tenth of a percent on both ends of the range. Three Fed officials expect the first rate hike to come in 2014, 12 expect it in 2015, and two in 2016. The central forecast for the 2016 rate path is around 1.75% to 2%.
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