Federal Reserve gloomier on jobs, economic growth

[defendandprotect]

Federal Reserve gloomier on jobs, economic growth


Chris Isidore, On Wednesday June 22, 2011, 3:42 pm EDT
Ben Bernanke and the rest of the Federal Reserve have grown more pessimistic about the state of the U.S. economy.

At the conclusion of a two-day policy meeting, the central bank said that while the recovery is continuing at a moderate pace, growth is somewhat slower than expected. It also said the jobs market is "weaker than anticipated."

It also issued new economic projections that call for slower economic growth, higher unemployment and higher inflation in 2011 and 2012 than in its previous forecast At a press conference Wednesday afternoon, Fed chairman Bernanke referred to the new forecast as a significant revision.

The Fed said in its statement that it believed some of the headwinds would be short-lived, including supply disruptions from the Japanese earthquake, and the "effect of higher food and energy prices on consumer purchasing power."


http://finance.yahoo.com/news/Federal-Reserve-gloomier-on-cnnm-1918664097.html?x=0



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We need more Americans asking why a private bank is setting our economic policy -- !!

Our economic policy -- full employment, for instance -- should be set by our Congress and

those we elect to office -- and can unelect!!

5 year to full employment of 5.5% -- since when has the Fed ever worked for full employment --

that's just more BS.

"Fears" of a new recession -- it continues to look like a depression.

40 million on food stamps -- how many tens of millions without health care --

What would it take to call it a "depression"?

How many homeless, how many foreclosures make it a depression?

And the Fed "signals" when our economy is weak enough to decide on the FED taking additional

steps to boost the economy!! Where is our Congress -- ? Where is our president?

And once again we see the insane comments that inflation fear are simply the delusion of

economists -- !!

FED's "optimism" and thinking on inflation is met with doubts by other economists.

The balance of the article seems to reflect a lack of confidence in the FED report --

If anyone finds anything truly optimistic in all of this, please let us know!

[girl gone mad]

1. Bernanke is just a Debbie Downer.

He never loved the President.

[midnight]

2. O well.... I guess there is nothing to do but make the poor suffer more pain....

[roamer65]

3. Here comes QE3.

[unkachuck]

4. K&R

'...the jobs market is "weaker than anticipated."...'

....haven't they heard?....the 'boner-jobs' are coming!