Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Wednesday, March 20, 2013

Unemployment Will Stay Above 6.5 Percent For Two More Years: Fed

WASHINGTON — The Federal Reserve foresees unemployment remaining high into 2015, suggesting it will keep short-term interest rates near record lows at least until then.

In its latest economic forecasts released Wednesday, the Fed predicts that the unemployment rate will stay above 6.5 percent for about two more years. Fed policymakers also expect the economy to grow modestly this year and next despite economic gains so far in 2013.

The Fed's updated forecasts are nearly identical to projections it made in December. The Fed has said it plans to keep its benchmark rate near zero as long as unemployment exceeds 6.5 percent and the inflation outlook is tame.

The policymakers expect the economy to grow as little as 2.3 percent this year – not enough to quickly drive down unemployment – or as high as 2.8 percent. In 2014, growth could range from 2.9 percent to 3.4 percent in 2014, they predict.

The Fed has slightly upgraded its outlook for unemployment. It now sees the rate falling to between 7.3 percent and 7.5 percent by the end of this year. That's down from a previous range of 7.4 percent to 7.7 percent.

The rate fell to 7.7 percent in February, the lowest in four years.

By the end of 2014, the Fed expects the rate to fall between 6.7 percent and 7 percent. That's a narrower range than in December, when it forecast a range of 6.8 percent to 7.3 percent.

Original Article
Source: huffingtonpost.com
Author: CHRISTOPHER S. RUGABER

No comments:

Post a Comment