Our Awful Situation
Fed sees the light
Well, duh. Central planners can be real dough-heads sometimes…
The Federal Reserve sees worse economic problems ahead, according to new forecasts from the central bank released Wednesday.
But even so, the Fed may be reluctant to cut interest rates any further than it already has, the minutes from its last meeting show. (The minutes were also released Wednesday.)
The Fed lowered its economic growth forecast for the year. At the same time, it raised its projections for inflation and unemployment. The combination of slowing growth and rising prices created a difficult situation that made the Fed’s latest decision to cut rates on April 30 a “close call.”
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