The Fed's Latest
"The economic outlook had softened somewhat and a number of members saw the risks to the outlook as having shifted to the downside.
The unemployment rate was generally expected to remain noticeably above its long-run sustainable level for several years, and participants expressed concern about the extended duration of unemployment spells for a large number of workers."
Consumer borrowing fell $9.1 billion in May following a $14.9 billion decrease in April. Non-government employers added just 83,000 jobs in June.
Sales at U.S. retailers fell in June for a second month, indicating the pace of economic recovery moderated heading into the second half of 2010. Purchases decreased a more-than- projected 0.5 percent following a 1.1 percent May drop.
“The business sector is generally strong, with fat profits, lean balance sheets, and improved, if not stellar, demand.
“The bridge to a stronger consumer is the hiring that businesses should be doing but are not because the near future is too cloudy.” - Stephen Stanley, chief economist at Pierpont Securities LLC.
The Nattering One muses... No recovery in sight and a major disconnect between the soon to fall off a cliff business sector and the overall economy.
What Mr. Stanley fails to connect is the supposed "stellar demand" with no jobs. When will these Wall Street Ass Clowns get a clue?
Get ready Naybobs, the worst is yet to come.
The unemployment rate was generally expected to remain noticeably above its long-run sustainable level for several years, and participants expressed concern about the extended duration of unemployment spells for a large number of workers."
Consumer borrowing fell $9.1 billion in May following a $14.9 billion decrease in April. Non-government employers added just 83,000 jobs in June.
Sales at U.S. retailers fell in June for a second month, indicating the pace of economic recovery moderated heading into the second half of 2010. Purchases decreased a more-than- projected 0.5 percent following a 1.1 percent May drop.
“The business sector is generally strong, with fat profits, lean balance sheets, and improved, if not stellar, demand.
“The bridge to a stronger consumer is the hiring that businesses should be doing but are not because the near future is too cloudy.” - Stephen Stanley, chief economist at Pierpont Securities LLC.
The Nattering One muses... No recovery in sight and a major disconnect between the soon to fall off a cliff business sector and the overall economy.
What Mr. Stanley fails to connect is the supposed "stellar demand" with no jobs. When will these Wall Street Ass Clowns get a clue?
Get ready Naybobs, the worst is yet to come.
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