Fed expects weaker recovery
 

Fed expects weaker recovery
By Chris Isidore, senior writerJuly 14, 2010: 3:11 PM ET


NEW YORK (CNNMoney.com) -- The Federal Reserve has become more pessimistic about the economy.

The Fed's latest forecast, included in the minutes of the central bank's June 23 meeting released Wednesday, is the latest sign of growing concern that the recovery is losing steam.

Email Print CommentThose worries led Fed policymakers to discuss what steps they might take to further spur economic activity "if the outlook were to worsen appreciably."

Only a few months ago, many economists thought the Fed would no longer need to consider moves to stimulate the economy. Instead, the Fed was expected to start worrying more about the possibility of inflation.

But the Fed now predicts the unemployment rate would be between 9.2% to 9.5% this year, slightly worse than the 9.1% to 9.5% range it forecast in April. Unemployment was 9.5% in June, but has averaged 9.7% over the first half of the year.

So ---- we gave a heroin addict a bunch of drugs, he peaked and now will soon crash. We treated the symptoms but not the disease. So, what more can the Fed do? interest rates cant get any lower. Your savings is allready earning nothing. Obama has already borrowed tons of money, will soon be stealing more from the working people and will continue to pump it back into the economy (that means giving it to people that didnt earn it) Real Estate market still in the tank.....
So my question? Obama's stimulus? What a farkin waste of money that we will be paying for my lifetime! I hate to say it but...... I told you so!

You could say most of the same about Bush you know.

As for "stealing money from the working people"...1/3 of the Stimulus or so went into tax cuts to help the working people. Somewhat different from the across the board Bush cuts that delivered the most benefit to the rich.

As for the stimulus being a waste, there still is a general belief that it helped avert a much worse situation or even another depression. If that's the case then it was money well spent.

-spence

no, that's Obama's montra and few are buying that crap anymore...this is what you say when you and your policies are a complete and utter failure..."well...ya know...it could have been a lot worse if not for me"...just pathetic :uhuh: the Obamorons are slipping into delusional dishonesty....there IS a general belief that Obama and his administration are a disaster and unlike you and your claims......I can provide solid evidence of mine :uhuh:

"without this stimulas unemployment could reach over 8%"

Hate to tell you guys The unemployment numbers are flawed. There are 1.4 million people who have exhausted their benefits (Months ago) and have dropped from the actual numbers for continued claims that is the only reason the unemployment rate is below 10% on paper. There are more and more dropping off every week and that is why the the unemployment rate does not look as bad.

Personally I would be willing to bet it is closer to 10.5% if they factored in all the people who have exhausted benefits, have hundreds of resumes out and still no job.

That also does not take into account the number of college kids who graduated in 2009 and 2010 who never found a job and never entered the workforce so they never show up in the numbers either.


The economy is far worse than it is being portrayed. We are on track for another dive in the economy with an exhausted safety net.

Couple of articles I read, put the true number closer to 14-16%. I'm sure politicians are trying to avoid allowing the use of terms like "Double-digit unemployment."

politicians (seeking reelection) are trying to aviod using words like "Obama" :rotf2:

You are Most likely CORRECT... I was trying to be conservative so I did not get blasted ,,:uhuh::uhuh:

actually, out here you GET blasted by being a conservative.....

That's the biggest load of crap. Make any comment that doesn't align with the Republican agenda and half a dozen people will jump on the person.

jeez, never a sense of humor!
I want you to appreciate my witty play on words. Johnny someday you have the drop the liberal victim mentality, it doesn't suit you. :biglaugh:

Bahh... wit and humor are not allowed in here.