"FED: It will be worse than we thought"

Discussion in 'Economics' started by jueco2005, Feb 18, 2009.

Will it be even worse???

  1. This is a Depression for sure

    7 vote(s)
    50.0%

  2. I still have hopes for a mild recession

    1 vote(s)
    7.1%

  3. Depression, WW3, Global revolutions and collapses

    6 vote(s)
    42.9%
  1. jueco2005

    jueco2005

    http://www.msnbc.msn.com/id/29260434

    WASHINGTON - The Federal Reserve on Wednesday sharply downgraded its projections for the country’s economic performance this year, predicting the economy will actually shrink and unemployment will rise higher.

    Under the new projections, the unemployment rate will rise to between 8.5 and 8.8 percent this year. The old forecasts, issued in mid-November, predicted the jobless rate would rise to between 7.1 and 7.6 percent.

    The Fed also believes the economy will contract this year between 0.5 and 1.3 percent. The old forecast said the economy could shrink by 0.2 percent or expand by 1.1 percent.

    PREPARE FOR THE WORST..................EXPECT THE BEST
     
    #1     Feb 18, 2009
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