Tuesday, February 16, 2010
Fed: "Look for 3% Growth Next 2 Years"
This article corresponds directly with the information sent from Dr. Emre Ergungor at The Economic Outlook Conference. As presented by Professor Skosples, Dr. Ergungor and the Fed are predicting a growth of 3% in GDP for the next two years. Federal Reserve Bank of Minneapolis President Narayana Kocherlakota also says, along with our speakers, that unemployment will not be falling by significant amounts either. It also mentions that inflation levels will be relatively low.
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“At slower rates than we would like” (referring to the recovery of unemployment) is an understatement. The article says unemployment is unlikely to fall below 9 percent this year or below 8 percent next year. Does that mean it’s being predicted it will at least fall somewhat in the upcoming year? If so, then it’s good news that at least we’re out of the recession and that we’re heading in the right direction.
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