LayoffBlog.com

January 7, 2009

Fed Minutes Offer No Comfort

According to Forbes: “The U.S. Federal Reserve sees an economy mired in recession, with only a slow march to improvement into 2010.”

“Most members of the policy-setting committee expect the economy to recover slowly in the second half of 2009, with an aggregate contraction in the country’s gross domestic product for the year, and a significant rise in unemployment into 2010.”

“[..]they expect the worst financial crisis in more than a half century is going to get even worse. In addition to putting further pressure on U.S. home prices, the unemployment rate will also rise above 11.0%, they projected.”

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