Posted on 04/26/2012 6:03:24 PM PDT by Steelfish
Fed Upgrades Economic Outlook At the end of their two-day meeting, Federal Reserve policymakers said unemployment could fall to 7.8% in the fourth quarter. They project slightly faster economic growth this year, including improvement in housing.
Federal Reserve policymakers offered a more upbeat assessment of the economy after their two-day meeting ended. By Don Lee, Los Angeles Times April 25, 2012, WASHINGTON — The Federal Reserve upgraded its outlook for the economy, predicting the unemployment rate would fall to as low as 7.8% in the fourth quarter — a drop that could have a significant effect on the presidential election.
Just three months ago, most Fed policymakers expected the nation's jobless figure to be 8.2%, its current rate, or higher in the last three months of the year.
The improved outlook, issued Wednesday at the end of a two-day Fed meeting, reflects a sharper-than-expected drop in unemployment in recent months and projections for slightly faster economic growth this year, including some improvement in the downtrodden housing market.
Nonetheless, the U.S. economy will expand only moderately over coming quarters, the central bank said in a policy statement that accompanied the new quarterly forecast.
Fed officials voted 9 to 1 to stick with their existing easy-money policies, reaffirming a pledge to keep short-term interest rates at record lows through 2014. The Fed's federal funds rate, which has been near zero since late 2008, influences loan rates for businesses and consumers.
The Fed's statement didn't indicate that additional efforts to boost the economy were on the way.
Some economists and critics have argued strenuously that the Fed should do more to support the economy and reduce the high unemployment rate by making another round of big bond purchases, which could help lower long-term rates and bolster growth.
(Excerpt) Read more at latimes.com ...
The unemployment rate will be 2.78 next November. I will not tell you where I obtained that figure except that it is an exceedingly dark place where the sun never shines. The Federal Reserve used the same technique.
Well, good luck! We could all use some.
The honest truth is that you could get hired doing SOMETHING if there was any life in this economy. There is not.
Well, the Fed has put the word out. Now the Bureau of Lying Statistics (BLS) has a few months to generate dubious statistics to back up the projection. Didn’t see this coming in an election year didya?
What do you think? 2.5% unemployment on October 26?
That should be good for a few million more votes.
You should get a job in South Texas on the Eagle Shale fracking oil/gas industry.
Top job is a wireline operator ...six figures and up.
Me ...I just got a CDL A licence (at ago 70) and was hired within in 2 days to drive big rigs...will be heading for the fracking fields whan I have about 6 months truck driving experience under my belt....(each fracked well needs about a million gallons of water to start it up)...that’s a lot of tankers.
You should get a job in South Texas on the Eagle Shale fracking oil/gas industry.
Top job is a wireline operator ...six figures and up.
Me ...I just got a CDL A licence (at age 70) and was hired within 2 days to drive big rigs...will be heading for the fracking fields whan I have about 6 months truck driving experience under my belt....(each fracked well needs about a million gallons of water to start it up)...that’s a lot of tankers.
Doesn't matter any more - they've inured the public to reality via the comical (but sinister) "unexpected rise in unemployment type statemens and the next months 'adjustmnets". They can say whatever they want, and then "adjust" it to 12% after the election and nobody will think twice. That and they will probably use "projected" hires for the Christmas season and pad the nimbers while adding them to the work force (on paper). Hell they might have it down to 4% if they really work hard with the numbers - then we'll have about 12 million folks thinking they are the only schlubbs who can't find a job in the booming economy.
Cheerleading for the regime much???
Hey!! Just a cotton pickin' minute!!! We all know that fracking, oil drilling , coal mining produce ZERO new jobs!!! All the new jobs are created by startups like Solyndra or by state governments as fire fighters & teachers. The Ministry of Government Statistics told me so!!!
I think you're making it up ; p
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