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Fed's Bullard says U.S. jobless rate expected to fall below six percent this year (utter BS!)
Yahoo Finance ^

Posted on 03/26/2014 4:12:54 AM PDT by Red in Blue PA

HONG KONG (Reuters) - The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country's economy after central bank comments sent shock waves through financial markets last week.

James Bullard, president of the Federal Reserve Bank of St. Louis, said that the outlook for the U.S. economy is "quite good," despite data from early in the year.

"The biggest thing is that unemployment has come down more quickly than expected," said Bullard, speaking on a panel at the annual Credit Suisse investor conference in Hong Kong.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: News/Current Events
KEYWORDS: obama; recession; unemployment
The only reason the unemployment rate is falling is because people are dropping out of the numbers, still unemployed!

Last month, approx. 170,000 jobs were added yet there were 270,000 more unemployed due to people dropping out of the numbers.

1 posted on 03/26/2014 4:12:54 AM PDT by Red in Blue PA
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To: Red in Blue PA
It'll be 0% before January 2017.

/s

2 posted on 03/26/2014 4:15:37 AM PDT by edpc (Wilby 2016)
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To: Red in Blue PA

The cost of a pound of hamburger or a pound of bacon or a gallon of milk says differently, Bullard.


3 posted on 03/26/2014 4:18:36 AM PDT by Gaffer (Comprehensive Immigration Reform is just another name for Comprehensive Capitulation)
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To: Red in Blue PA

Well, if another million are dropped from the labor force because they have run out of unemployment benefits, Obama’s liars can strut their phony stats on the business channels and brag about their great recovery. Families who can’t afford hamburger know better.


4 posted on 03/26/2014 4:20:25 AM PDT by txrefugee
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To: Red in Blue PA
The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country's economy after central bank comments sent shock waves through financial markets last week.

Think about that for a moment. We're supposed to believe the economy is wonderful, but a mere comment sends the financial markets into a tailspin. Oh, and I wonder if this Fed prostitute could explain why, if the economy is so healthy, is the number of food stamp recipients at an all-time high?

5 posted on 03/26/2014 4:32:47 AM PDT by Flick Lives ("I can't believe it's not Fascism!")
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To: Red in Blue PA

The unemployment rate will drop to 6% by October of this year...just in time to re-elect democrats. What a load.


6 posted on 03/26/2014 4:40:14 AM PDT by SMM48
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To: Red in Blue PA

I wonder how much they’re going to have to shrink the workforce to achieve that?


7 posted on 03/26/2014 4:42:01 AM PDT by The_Victor (If all I want is a warm feeling, I should just wet my pants.)
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To: Red in Blue PA

“The U.S. unemployment rate will fall below 6 percent by the end of this year...”

With or without smoke and mirrors...Because my ex-wife’s mothers butt can look smaller too...In fun house mirrors.


8 posted on 03/26/2014 4:46:52 AM PDT by areukiddingme1 (areukiddingme1 is a synonym for a Retired U.S. Navy Chief Petty Officer and tired of liberal BS.))
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To: Red in Blue PA

“And if my aunt had balls, she’d be my uncle.”


9 posted on 03/26/2014 5:04:53 AM PDT by headstamp 2 (What would Scooby do?)
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To: Red in Blue PA

The biggest thing is that unemployment has come down more quickly than expected,


Huh? If the numbers were true, they’d still be a year or two behind what we’d expect...and they are not true in a meaningful sense.


10 posted on 03/26/2014 5:14:56 AM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: Red in Blue PA

Then why wait for it to actually happen? Go ahead and report the good news!


11 posted on 03/26/2014 5:34:54 AM PDT by skeeter
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To: Red in Blue PA

Yes, that is how I see the situation, too. Did the child journalist who scribbled this story take any economics classes while in school?


12 posted on 03/26/2014 6:14:05 AM PDT by SoFloFreeper
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To: Red in Blue PA

I completely agree this can only occur if the participation rates continue to drop rapidly.

But consider this, we are moving into the bulk of the baby boomers leaving the workforce, something like 300,000/month every month this year.

You add 150k jobs a month, have 270 to 300k leave the workforce, each month for 6 months until the Oct. numbers are reported, and that’s 1,000,000 less workforce participants...

62.1% participation rate, and you reach the magical 5.99% U3 unemployment rate.

http://www.bls.gov/news.release/empsit.t01.htm


13 posted on 03/26/2014 7:17:14 AM PDT by JerseyHighlander
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