Fed Projections Show Weakness Into 2010

The Federal Reserve, a year ago ago this week, began unveiling economic projections four times a year (expanded from twice annually) and stretching over three years (instead of two). The change was promoted as a major step forward for Fed transparency.
That transparency today gave us a particularly ugly outlook inside officials’ minds. The majority of the Federal Open Market Committee appears to see unemployment remaining high into 2011, with growth remaining weak into 2010.
http://blogs.wsj.com/economics/2008/11/19/fed-projections-show-weakness-into-2010/