Read more: http://www.foxbusiness.com/markets/2010 ... z16BYchQnPWASHINGTON - The Federal Reserve's governors and regional presidents have grown more sour on growth and unemployment, with some saying it could take more than six years for the jobless rate to return to normal levels, according to a summary of projections released Tuesday.
Wait, but I thought the Federal Reserve said that we wouldn't have to do Q2E, and well now they said they have to, and that it would fix everything, right? But now they are saying that its not going to fix everything? We are going to have poor growth and unemployment for at least six years?
When are the words and actions of these people going to start to lose credibility? They have been wrong in almost every action that they have taken in over a decade.
I would expect them at some point in 2011, to start talking about doing a Q3E, because the Q2E just didn't work.... then what after that? QE4? Expect rampant inflation and higher interest rates coming. I actually hope for higher interest rates to quell the formation of another bubble and hyperinflation. If they don't raise the rates at some point to really high levels we are in for a very bumpy ride.