Following are the economic projections issued Wednesday by the Federal Reserve in its semi-annual monetary policy report to Congress.

(All figures Q4 over Q4, except jobless which is Q4 average, and all figures in percent)

Fed Economic And Monetary Forecasts:
2002 Central Tendency Range
Nominal GDP 4.00 to 4.50 3.50 to 5.50
Real GDP 2.50 to 3.00 2.00 to 3.50
PCE Price Index About 1.50 1.00 to 2.00
Unemployment 6.00 to 6.25 5.75 to 6.50
Previous Forecasts From July 2001 Report:
2002 Central Tendency Range
Nominal GDP 5.00 to 5.50 4.75 to 6.00
Real GDP 3.00 to 3.25 3.00 to 3.50
PCE Price Index 1.75 to 2.50 1.50 to 3.00
Unemployment 4.75 to 5.25 4.75 to 5.50