Fed's economic forecast worsens

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http://money.cnn.com/2009/05/20/news/economy/fed_minutes/?postversion=2009052016
 Quote:
NEW YORK (CNNMoney.com) -- The Federal Reserve's latest forecasts for the U.S. economy are gloomier than the ones released three months earlier, with an expectation for higher unemployment and a steeper drop in economic activity. The Fed's forecasts, released as part of the minutes from its April meeting, show that its staff now expects the unemployment rate to rise to between 9.2% and 9.6% this year. The central bank had forecast in January that the jobless rate would be in a range of 8.5% to 8.8%, but the unemployment rate topped that in April, hitting 8.9%. The Fed also now expects the gross domestic product, the broadest measure of the nation's economic activity, to post a drop of between 1.3% and 2% this year. It had previously expected only a 0.5% to 1.3% decline.
All of this demand side economics is working wonderfully! \:\(
 
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 Originally Posted By: Tempest
All of this demand side economics is working wonderfully! \:\(
The big companies DEMAND tax money and taxpayers get in the backSIDE! John
 
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ON, Canada eh?
 Originally Posted By: John_K
 Originally Posted By: Tempest
All of this demand side economics is working wonderfully! \:\(
The big companies DEMAND tax money and taxpayers get in the backSIDE! John
If you get it in the backside enough you might qualify to be Canadian.
 
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