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Fed foresees slightly lower unemployment in 2014

The Federal Reserve expects unemployment to fall a bit further over the next two years than it thought in September and expects inflation to remain below the Fed's target level.

By Christopher R. Rubager | Updated on December 18, 2013

WASHINGTON (AP) — The Federal Reserve expects unemployment to fall a bit further over the next two years than it thought in September and expects inflation to remain below the Fed’s target level.

The Fed predicts the unemployment rate will dip as low as 6.3 percent next year and 5.8 percent in 2015. Both are one-tenth of a percentage point lower than it forecast in September. Unemployment has fallen faster this year than policymakers had predicted. It’s now 7 percent.

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