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Fed lowers outlook for economy through 2011
http://finance.yahoo.com/news/Fed-lowers-outlook-for-apf-2000185105.html?x=0&sec=topStories&pos=2&asset=&ccode= ^

Posted on 11/23/2010 12:57:23 PM PST by Red in Blue PA

WASHINGTON (AP) -- Federal Reserve officials have become more pessimistic in their economic outlook through next year and have lowered their forecast for growth.

The economy will grow only 2.4 percent to 2.5 percent this year, Fed officials said Tuesday in an updated forecast. That's down sharply from a previous projection of 3 percent to 3.5 percent. Next year, the economy will expand by 3 percent to 3.6 percent, the Fed said, also much lower than its June forecast.

Fed officials project that unemployment won't change much this year, averaging between 9.5 percent and 9.7 percent. The current unemployment rate is 9.6 percent. Progress in reducing unemployment has been "disappointingly slow," the central bank said, according to the minutes of its Nov. 2-3 meeting.

The darker view helps explain why the Fed decided at its meeting earlier this month to launch another round of stimulus. The central bank plans to buy $600 billion in Treasury bonds over the next eight months in an effort to lower interest rates and spur more spending.

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


TOPICS: News/Current Events
KEYWORDS: bhoeconomy; democrats; economy; fail; hopeychangey; obama; soros; sourcetitlenoturl; spookydude
They can't predict a month out, yet have the audacity to predict years out.
1 posted on 11/23/2010 12:57:26 PM PST by Red in Blue PA
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To: Red in Blue PA

Gotta love how “better days” are always on the horizon....just out of view.


2 posted on 11/23/2010 12:58:58 PM PST by Red in Blue PA (Planning on using 911? Google "Brittany Zimmerman")
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To: Red in Blue PA
" They can't predict a month out, yet have the audacity to predict years out."

With Obama at the helm predicting the future economy -- or lack thereof -- has become much simpler.

3 posted on 11/23/2010 1:01:05 PM PST by avacado
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To: Red in Blue PA

Green Shoots™

4 posted on 11/23/2010 1:01:40 PM PST by central_va (I won't be reconstructed, and I do not give a damn.)
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To: Red in Blue PA

5 posted on 11/23/2010 1:03:48 PM PST by TSgt (On 11/08/2010 at 0421 my life changed forever. I became a father.)
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To: Red in Blue PA

If I remember correctly the last quarter of Bush the First growth was 2.8 and it gave us Clinton. However, it’s got to be worse than they’re saying. If a republican was in they’d tell the truth and say unemployment is 20% and growth is nagative.


6 posted on 11/23/2010 1:06:03 PM PST by Terry Mross
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To: Terry Mross
"If I remember correctly the last quarter of Bush the First growth was 2.8 and it gave us Clinton. "

I think that's right. I believe unemployment was around 7.3-7.4% on election day, 1992. But, it had fallen from a 8-year (or more) high of 7.8%. Of course, only 18mos earlier, it was only 6.4%, but then they raised the minimum wage and - shocking - unemployment went up. Who could have seen that coming? /s.

7 posted on 11/23/2010 1:12:41 PM PST by OldDeckHand
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To: Red in Blue PA

The Beginning Of The Ponzi End: As Of Today, The Biggest Holder Of US Debt Is Ben Bernanke

http://www.zerohedge.com/article/today-biggest-holder-us-debt-united-states-america


8 posted on 11/23/2010 1:14:24 PM PST by FromLori (FromLori)
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To: Red in Blue PA

Huh! Go figure. Now that the election is over, they’s yellin’ doom and gloom. I guess the strings have broken on that fat lady’s bustle now.


9 posted on 11/23/2010 1:15:20 PM PST by Gaffer
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To: Red in Blue PA
The fed... what a friggin’ joke... they couldn't find their ass with both hands.

LLS

10 posted on 11/23/2010 1:15:39 PM PST by LibLieSlayer (WOLVERINES!)
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To: LibLieSlayer

Well, I guess you’re partly right. Only now, the TSA have taken over the ‘case of the missing ass’.


11 posted on 11/23/2010 1:16:48 PM PST by Gaffer
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To: Red in Blue PA

One more item to add to the “unexpected” list.

Funny how a group that was lauded as so incredibly smart, good looking, and nearly omnipotent has found so many things that we rubes predicted to be “unexpected” when they eventually occur.

Maybe we’re the smart ones, and they’re just collectively self-delusional.


12 posted on 11/23/2010 1:21:38 PM PST by chrisser (Starve the Monkeys!)
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To: Gaffer

You know...you are correct.

LLS


13 posted on 11/23/2010 1:29:12 PM PST by LibLieSlayer (WOLVERINES!)
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To: LibLieSlayer

Outside the Oval / The Case Against the Fed

http://www.hussmanfunds.com/wmc/wmc101122.htm


14 posted on 11/23/2010 1:30:16 PM PST by FromLori (FromLori)
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To: Bullish; CJ Wolf; houeto; Quix; B4Ranch; Whenifhow; Silentgypsy; blam; FromLori; Lurker; ...
"Economic Holocaust" ping.

Moderate (but increasing) volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

15 posted on 11/23/2010 1:31:05 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: Red in Blue PA

Great work, Ben.


16 posted on 11/23/2010 2:35:29 PM PST by dr_who
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To: LibLieSlayer

To wake up my friends and family to the Fed’s failure to fulfill their mandates, I’m asking for silver for Christmas.

Hopefully they’ll learn something when they begin searching for as silver coin or trinket to buy.


17 posted on 11/23/2010 2:48:18 PM PST by Restore Real Money
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To: FromLori

Thanks for the link. I will read it tonight.

LLS


18 posted on 11/23/2010 3:05:00 PM PST by LibLieSlayer (WOLVERINES!)
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To: The Comedian

And the beat goes on.


19 posted on 11/23/2010 4:54:25 PM PST by Quix (Times are a changin' INSURE you have believed in your heart & confessed Jesus as Lord Come NtheFlesh)
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