Monday, February 23, 2009



The Federal Reserve chairman, delivering semiannual testimony required in legislation written by the late lawmakers, will describe a U.S. economy returning to growth next year without generating many new jobs. Even with credit markets thawing, Fed officials see unemployment persisting at 8 percent or higher through the final three months of 2010.

“We could have an awkward situation where the recession ends and the job-loss situation continues for some time,” says Christopher Rupkey, chief financial economist at Bank of Tokyo Mitsubishi UFJ Ltd. in New York. That “probably hasn’t been a factor that has pressured the Fed since the 1990-1991 recession.”

A recovery with slow job growth would keep pressure on the Fed to hold interest rates around zero and to continue or expand billions of dollars in lending programs and asset purchases. It would also mark a failure to fulfill the mandate of the Humphrey-Hawkins Full Employment and Balanced Growth Act, signed into law by President Jimmy Carter on Oct. 27, 1978, that the central bank achieve both maximum employment and stable prices.

... interesting, make a note of it ...
... his puppet master and the trilateral commision ...
... are recovering at the cost of employment ...
... note that his puppet master bank ...
... is giving back to the US ordinary stocks ...
... in exchange for priviledged ...
... and that banks in general ...
... are getting trillions of donations ...
... from the taxpayer ...
... and charging interest to the taxpayer ...
... for the trillions ...
... us federal reserve ...
... best ponzi scheme in history ...







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