From the Fed’s Minutes Members expected real GDP growth to be moderate over coming quarters and then to pick up very gradually, with the unemployment rate declining only slowly. With longer-term...

From the Fed’s Minutes

Members expected real GDP growth to be moderate over coming quarters and then to pick up

very gradually, with the unemployment rate

declining only slowly. With longer-term inflation

expectations stable, members anticipated that

inflation over the medium run would be at or

below 2 percent a year.