Posted on 11/23/2009 7:40:46 AM PST by Red in Blue PA
PARIS (Reuters) - Chicago Federal Reserve President Charles Evans expects U.S. unemployment to peak at around 10.5 percent next spring and hopefully easing to about 9.5 percent by end-2010, according to comments published on Monday.
"The best guess would be that we will probably plateau in the spring," the Financial Times quoted him as saying.
"I would expect that we'll level off and have the same unemployment rate for a few months probably, before it starts to come down. And it might even go up and down for a couple of months."
Evans had been "a little surprised" by recent data showing unemployment at 10.2 percent and nudged his own expectations a little higher as a result, the newspaper said.
"Hopefully, by the summer we'll see that the unemployment rate has peaked and begun to decline," he said, with a drop to about 9.5 percent by the end of the year.
More broadly, Evans believed the first half of next year "could be a little uneven" for the economy.
"The second half of 2010 I think will be a period where the expansion is really beginning to pick up," he said. "I think the private sector will pick up more steam and the recovery will really be taking hold," he was quoted as saying.
(Excerpt) Read more at cnbc.com ...
Hah. Expect 12% by this spring, just in time for the primaries.
Pure fantasy
LLS
Fed displaying irrational exuberance ?
Actually I think its more like exuberent flattulance.
There is not a single economic indicator that supports that prediction. On the other hand there are all sorts of economic indicators that foretell the economy continuing its downward spiral until the usurper President and his gang of angry commies are out of office.
Here are a few indicators: Demand for gasoline, electricity, shipping (road, rail and ocean), housing and automobiles are all down. And not a thing is happening to reverse those declines. Oh and let’s not leave out our national debt. It’s the only thing that’s rocketing upward. If Onadacare is crammed down our throats additional billions of dollars will sucked out of consumer’s pockets. That’s money that won’t be spent on stuff.
that is my guess
2010 will be better than 94.
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