Posted on 05/20/2015 7:23:33 AM PDT by Citizen Zed
Chicago Fed President Charles Evans said Wednesday that it was by no means certain that the natural rate of unemployment in the U.S. is 5% and that it might be even be lower, suggesting that it might take even longer for inflation to get back up to the Fed’s 2% target.
“I’ve got the natural rate of unemployment at 5%, [but] my research staff has indicated it could be lower than that,” he said.
“There’s a lot of uncertainty about that. As unemployment goes down, I’m also going to be looking to see what inflation is doing. Because if we’ve got a natural rate below 5%, we might not see inflation pick up until we go even further. That’s a complicated one.”
The dovish central banker, who has repeatedly advocated that the Fed wait until next year to raise rates, said, however, that he had an “open mind” about determining appropriate policy and could be convinced to change his mind if data surprised positively.
(Excerpt) Read more at marketwatch.com ...
Unemployment under 5%? Oh, OK. That would explain the 93 million Americans out of the workforce and 50 million plus on public assistance. These people really think we’re just rubes out here.
The economy should stay on ZIRP just like a heroin addict should stay on his thrice-daily needle.
Cover for the H-1b traitors in Sleazicon Valley.
These people have so mangled and so twisted the definition of “unemployed” that the word has lost all meaning.
They might as well say the unemployment rate is zero, or negative ten, or the square root of pi.
Under 5% with a high percentage of the people working. Under 5% by removing people from the workforce artificially, NOPE
Sometimes AKA Winston Smith
Who believes anything the Fed says? Its all propaganda.
What part of 93 million unemployed does this guy not understand? 5% unemployment is Common Core math. Let me get out my trusty HP calculator here and divide 93 mil into 330 mil. I’m getting 33.9% of the population out of work.
The reason we don’t have inflation after 5 years of massive printing is because we are in a deflationary depression. By now we should by all rights have hyper inflation.
The "good" news is factory layoffs will only affect the Chinks not us. But we really showed those unions who is boss.
Civilian labor force participation rate 16 years and over
Wait til this Obamatrade bill gets passed. That sucking sound you hear will be more jobs leaving the country followed by more foreign workers coming to take all the good paying tech jobs. Any destruction of the economy Obama couldn’t manage to do the Republicans are finishing up for him.
This guy’s in Fantasyland.
Better get another calculator. To figure what percentage 93 is of 330 you divide 93 by 330. Not the other way round. The answer comes up 28.18 percent. Do it your way and the answer is 354.83 percent. How did you come up with 33.9 percent?
This is such a huge lie.
Yup, although I might give it to them and say about 30 per cent. We need to call these people what they really are..a bunch of lying, worthless, c suckers. And call them that right in their face.
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