|
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!
|
Threaded Mode