Source: U.S. Economy Right Where It’s Supposed to Be, Ritholtz Says
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Jobless recoveries are always worrisome, but I myself have confidence in FOMC’s strategy, especially when one considers the raw Unemployment Rate data hides the necessary 600k state/local layoffs and the growing boomer retirees.
Re: timing. On its present course, the UR should be announced at 7.7% in the days prior to the Nov Election and FOMC should be able to re-concentrate on its Inflation target upon UR falling to 7% in 2013Q3. The natural or full employment rate (6%) should be attained by 2014Q2.
In other words, their promise of low interest rates ’til late 2014 is only to accommodate at worst case scenario. As it appears job growth has critical mass, the date will be hastened.
Trendlines Recession Indicator chart: http://trendlines.ca/free/economics/RecessionIndicatorUSA/USA-TRI.htm
[...] is pretty much what we should expect from a post-credit crisis [...]