November 24, 2009
Fed Projects Lower Unemployment Rates in 2010, Beyond
As a college student getting ready to transition to the "real world," this is some of the best news of the year. The Federal Reserve announced that the national unemployment rate could possibly dip below seven percent by 2012. By Q4 2010, unemployment rates are projected between 9.3% and 9.7%. While these numbers are far from perfect, they are a good sign given the uncertainty of just six months ago.
Granted, the economy won't immediately boom. Expecting roaring bull markets and massive profits amongst retailers at this point is still naive. And don't even think about mortgage backed securities now (or ever again, really). The turnaround will be gradual, similar to the rise of the Indy Colts this decade. So don't buy that luxury Bay Area condo with the three-car garage just yet. But don't worry about your job or mutual fund too much either.
Posted by iaijazud at 05:40 PM | Comments (0)
