“Of course, Obama has no chance of getting a second term in this economy,” my friend said definitively. “And whoever gets elected in 2012 will be a one-term President too.”
Another great column from Armstrong economics professor Nicholas Mangee in the Savannah Morning News: Our economic times: Federal Reserve remains resistant on policy
Calculated Risk has a succinct QE Timeline in this post. He also puts those dates into the following graph of the S&P 500. It speaks for itself.
Today’s economic projections after the latest round of Fed meetings are, in a word, dismal. They show continued growth and continued declines in unemployment — i.e., no recession — but with a growth so slow that millions of Americans will remain un- or underemployed. Many Americans already have a tenuous hold on their standing in the middle class; millions more will fall out of it if the Fed doesn’t do more.
Tonight the Washington Post is reporting on the Federal Reserve’s likely (or at least possible) decision in a couple of weeks to sell some of its shorter term securities and buy longer term ones. So there wouldn’t be any additional…