Posted on 04/25/2012 9:42:36 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.
(Excerpt) Read more at latimes.com ...
I wouldn’t say NOTHING is better. My company is hiring like gangbusters (we can’t fill slots fast enough) and most folk I know who were laid off are all fully employed by now. But they’re all engineer and IT peeps; I don’t know how other types are doing. I’m pretty sure the majority who are unemployed are ‘soft’ people, working marketing, HR, or other useless junk.
This is just liberals dreaming out loud. Obama’s economy has now passed the fail safe point, i.e. it’s too late for this dead economy to turn around in time for the election AND have the pendulum of public opinion on the economy also swing back his way. The MSM can crow all they want about “recovery summer” but it won’t mean a hill of beans to the millions who are unemployed or under-employed. Reality is a b**tch and our Dear Leader knows it.
Newt was right: the economy will begin to grow the night of November 6th, 2012, when the American public knows Obama has been defeated. Just hang on for a few more months, folks.
“But they’re all engineer and IT peeps; I don’t know how other types are doing. I’m pretty sure the majority who are unemployed are ‘soft’ people, working marketing, HR, or other useless junk.”
The financial sector has taken a hit that it will not recover from anytime soon; a lot of MBAs watched their jobs go to Asia (and they won’t be coming back). Even the tech sector has its wages suppressed by Asian imports; there is growth in tech as long as the projects are geared to sending more jobs out of the country. Anyone I know who lost a job in the last 5 years is making a lot less money now (even if they are doing the same work); Obama will lose on the job market situation itself. Lying about unemployment numbers doesn’t deceive many people anymore; it can’t conceal the fact that they are much worse off than four years ago (working or not).
“Obama’s economy has now passed the fail safe point, i.e. it’s too late for this dead economy to turn around in time for the election AND have the pendulum of public opinion on the economy also swing back his way.”
From your lips to God’s ears; I hope they aren’t able to pull off a massive scheme to convince enough people anything is really improving. Here in NJ it appears the “shovel-ready” projects from a few years ago are getting started in anticipation of the election; roads are blocked off for construction, with construction vehicles scattered about while men (many affirmative action types) in safety vests lounge around talking (and drawing pay).
Everyone is getting a job down at the unicorn stables.
They’re not “unemployed”, they’re “unexpected retirees”.
hcastaigne 4-25-2012.
Welcome to Free Republic!
A prediction of UFOs landing and having a galactic convention in Las Vegas would have more veracity than ANY economic number from the Federal government especially right before the election.
We know for a fact the UE numbers are deliberately low. We know for a fact, especially since Carter, the Cost Of Living/Inflation numbers are bogus beyond belief.
The propaganda masters in the MSM will give 100% cover to this administration in a bid to keep Marxism alive at the Federal level.
Figures don’t lie if liars don’t figure but that is exactly what we have at every level of government. Either direct lies or lies by omission are the daily duties of the propaganda ministers and the ignorant lap it up.
I am exactly the opposite of the First Wookie. I was once very proud of the USA. Now I am ashamed to the core. We have miserably failed the Founders who risked everything to give us a limited government and an abundance of opportunities. I am ashamed. We now live in a dictatorship and the dictator is not even a Natural Born Citizen. If Mubumbo Odumbo is the best the black community has to offer, we are in for a rapid decline towards an entire country looking like Detroit.
Especially if Romney is elected.
Plus there will be a huge upturn in homelessness which is a topic unheard of during Democrat administrations.
Let's see - the fourth quarter report comes out in mid to late October. What happens two to three week's later?
Add to this the Feds have a long running track record of changing reported results downwards (worse) a week or two after the initial reporting. That would take the final (”accurate”) numbers to being released immediately before the elections.
The final ingredient is the physopsthic reactions of the LMSM - the reporting of the the “revised” (aka “accurate”) final numbers wouldn't appear on the wires until the morning after.
And yes, I chose the term “morning after” for a reason.
dont forget all the school kids starving. they only starve when dems arent in office.
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