A Key Reason That FOMC Members Expected That Their Target

Multiple Choice

A key reason that FOMC members expected that their target for the federal funds rate in 2016 would be higher than it actually was is that they had expected the growth rate of real GDP to be ________ and the inflation rate to be ________ than they actually were.

A) higher; higher
B) higher; lower
C) lower; higher
D) lower; lower