That for emerging economies and developing countries is projected to reach 4.5 percent, 5.1 percent, and 5.3 percent, respectively. The output gap for advanced economies is projected to be minus 2.9 percent in 2013 and minus 2.5 percent in 2014.
7 To  6  See Lael Brainard (2019), “Federal Reserve Review of Monetary Policy Strategy, Tools, and Communications: Some Preliminary Views,” speech delivered at the presentation of the 2019 William F. Butler Award, New York Association for Business Economics, New York, November 26, https://www.federalreserve.gov/newsevents/speech/brainard20191126a.htm.