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Economic Report:

By Jesse Russell

Pessimism is rampant at the Federal Reserve. A new report from the Fed forecasts economic growth in 2008 only being between 1.6 to 2.6 percent. Just five months ago those estimates were at 3 percent. The unemployment rate for the new year is also expected to bump up as high as five percent. Currently the rate is 4.7 percent. The pessimism at the Reserve echoes the sentiments of Americans in a new Washington post poll. 68 percent of Americans see the economy getting worse.