FED RELEASES NEW ECONOMIC FORECAST, SEES DETERIORATING ECONOMY, UP TO 8.2% UNEMPLOYMENT AT YEAR END
Posted On: June 21st, 2012
Source: Zero Hedge
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In April, the Fed saw 2012 GDP between 2.4-2.9% and unemployment of 7.8%-8/0%. The just released updated forecasts table has these two critical for the election campaign data points at 1.9%-2.4%, or a major drop since April, for GDP and unemployment declining to 8.0%-8.2%. One thing is certain: whatever GDP and unemployment are at the end of 2012, they will not be whatever the perpetially inaccurate Fed forecasts.
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