Zam-Zam
Senator
.....we are being told, is likely to get even worse. Welcome to the third annual "Summer of Recovery".........
(Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday offered a gloomy view of the economy's prospects, but provided few concrete clues on whether the U.S. central bank was moving closer to a fresh round of monetary stimulus.
Bernanke told the Senate Banking Committee the economic recovery was being held back by anxiety over Europe's debt crisis and the path of U.S. fiscal policy, and he expressed unease over a stagnant jobs market...........Despite the extensive support the Fed has lent the recovery, growth is too weak to cut unemployment. The economy expanded at a tepid 1.9 percent annual rate in the first quarter, and economists think the second quarter will be even weaker.
Complete text: http://www.reuters.com/article/2012/07/17/us-usa-fed-idUSBRE86G0MM20120717
“A year from now I think people are going to see that we're starting to make some progress," said Obama. "But there's still going to be some pain out there. If I don't have this done in three years, then there's going to be a one-term proposition.” -President Barack Obama, February 1, 2009
Hmmmmmm.........
(Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday offered a gloomy view of the economy's prospects, but provided few concrete clues on whether the U.S. central bank was moving closer to a fresh round of monetary stimulus.
Bernanke told the Senate Banking Committee the economic recovery was being held back by anxiety over Europe's debt crisis and the path of U.S. fiscal policy, and he expressed unease over a stagnant jobs market...........Despite the extensive support the Fed has lent the recovery, growth is too weak to cut unemployment. The economy expanded at a tepid 1.9 percent annual rate in the first quarter, and economists think the second quarter will be even weaker.
Complete text: http://www.reuters.com/article/2012/07/17/us-usa-fed-idUSBRE86G0MM20120717
“A year from now I think people are going to see that we're starting to make some progress," said Obama. "But there's still going to be some pain out there. If I don't have this done in three years, then there's going to be a one-term proposition.” -President Barack Obama, February 1, 2009
Hmmmmmm.........
