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Title: Fed Lowers Forecasts for Growth, Employment
Source:
[None]
URL Source: http://www.bloomberg.com/news/2011- ... by-fed-for-this-year-next.html
Published: Jun 22, 2011
Author: Joshua Zumbrun
Post Date: 2011-06-22 14:29:27 by socalv8
Keywords: bernanke, fed, stumped
Views: 6983
Comments: 26
Federal Reserve officials lowered their forecasts for growth and employment this year and next, underscoring the Federal Open Market Committee’s statement today that the recovery “is continuing at a moderate pace, though somewhat more slowly” than previously expected. U.S. central bankers also said inflation, excluding food and energy, will be somewhat higher than previously forecast. At a two-day meeting that concluded earlier today in Washington, they said the pace of recovery is likely to “pick up over coming quarters.” Fed Chairman Ben S. Bernanke will hold a press conference at 2:15 p.m. Washington time to discuss the economic outlook and monetary policy. The central bank released its forecasts after recent economic data pointed to a weakening economy. Companies boosted payrolls in May at the slowest pace since June 2010, Labor Department figures released June 3 showed. Autos sold last month at the weakest pace since September, retail sales dropped for the first time in 11 months and manufacturing grew at the slowest pace since September 2009. The Fed will complete a $600 billion bond purchase program as scheduled this month, according to the Federal Open Market Committee’s policy statement today. The Fed also said it will keep interest rates near zero for an “extended period” and continue to reinvest the proceeds of maturing assets.
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#1. To: All (#0)
Bernanke: "We don't have a precise read on why slower pace of growth is persisting."
Because Helicopter-Ben is a Keynesian idiot?
Bye, rat-boy mike. We'll miss you. [NOT] Bernanke "Additional purchases of longer-term securities, should the FOMC choose to undertake them, would be effective in further easing financial conditions" QE3?!
Bernanke: Greek default? BFD.
DOW limp. Bad news for QE3.
Bernanke: sharp cuts to the defecit will not create jobs in the short term but advocates cuts for long term benefits
B: "The reason we use terms like "extended period" is not to be opaque. The reason is we don't know how long."
QE3?! Yep. QE3 is 100% guaranteed to happen.
Bye, rat-boy mike. We'll miss you. [NOT] B: AT LEAST 2-3 meetings away from taking action, emphasis on at least. Says it could be longer.
Is that the, "AT LEAST 2-3 meetings away from taking action"?
B: "The slowdown is partly temporary."
B: "we project unemployment to come down very painfully slowly."
DOW limper.
Japanese reporter asking Bernanke how he reconciles his current view with past criticisms of Japan.
B: I don't believe sharp, immediate cuts in (US) debt create more jobs (but in smaller European countries they do)
B: Q&A: We're In Better Shape Than Last Year, Don't Expect QE346;
DOW, "Meh."
Interesting to note our resident lunatic Owe-bama worshippers are stone cold quiet on this one.
Proxy IP's are amusing.....lmao
Above their pay grades? ;)
Nope...anyone who might make a cogent argument is on probation. And the last thing that any of us want to do is engage Boofer in a battle of wit versus his witless one liners. Please note: Due to your account status (Probationed), you may make 10 comments per day. You have made 4 comment(s) so far today.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
No, just not acceptable in their weird fantasy world they've constructed.
Proxy IP's are amusing.....lmao
Actually, it is interesting to note that most of the folks whom you would place in that catagory have been placed on a ten post a day limitation, so dolts like you would have a fighting chance. Or haven't you figured that out yet?
Or haven't you figured that out yet? He's probably behind it. He certainly never comes out against the banning of those with dessenting opinions.
And golly gee, instead of using a post to actually make "a cogent argument," you wasted one just to point out you are on probation.
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
Or haven't you figured that out yet? Uh huh, sure. So what was your previous screen name here, asswipe?
Proxy IP's are amusing.....lmao
Lets not mock the mentally ill.....
Proxy IP's are amusing.....lmao
#2. To: socalv8 (#1)
Bernanke: "We don't have a precise read on why slower pace of growth is persisting."
#3. To: All (#0)
#4. To: All (#0)
#5. To: All (#0)
#6. To: All (#0)
#7. To: All (#0)
#8. To: socalv8 (#3)
Bernanke "Additional purchases of longer-term securities, should the FOMC choose to undertake them, would be effective in further easing financial conditions"
#9. To: All (#7)
#10. To: Capitalist Eric (#8)
QE3 is 100% guaranteed to happen.
#11. To: All (#9)
#12. To: All (#11)
#13. To: All (#12)
#14. To: All (#13)
#15. To: All (#14)
#16. To: All (#15)
#17. To: All (#16)
#18. To: socalv8 (#0)
#19. To: Badeye (#18)
#20. To: socalv8 (#19)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#21. To: socalv8 (#19)
#22. To: Badeye (#18)
Interesting to note our resident lunatic Owe-bama worshippers are stone cold quiet on this one.
#23. To: Thunderbird (#22)
(Edited)
Actually, it is interesting to note that most of the folks whom you would place in that catagory have been placed on a ten post a day limitation, so dolts like you would have a fighting chance.
#24. To: war (#20)
Nope...anyone who might make a cogent argument is on probation.
#25. To: Thunderbird (#22)
Actually, it is interesting to note that most of the folks whom you would place in that catagory have been placed on a ten post a day limitation, so dolts like you would have a fighting chance.
#26. To: no gnu taxes (#24)
And golly gee, instead of using a post to actually make "a cogent argument," you wasted one just to point out you are on probation.
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