U.S. economy to grow 2.5 percent this year: Fed's Evans

[Redfairen]

Source: Reuters

The U.S. economy is expected to grow by 2.5 percent in 2013, improving to 3.5 percent growth in 2014, top Fed official Charles Evans said on Monday.

Evans also forecast the U.S. unemployment rate would be 7.4 percent this year, easing to about 7 percent in 2014.

"One good indicator of labor market improvement would be if we saw payroll employment increase by 200,000 each month for a number of months. We've been averaging about 150,000, but it's been very uneven ... we need a higher pace of employment growth and less volatility in that pace," Chicago Fed President Evans said.

The creation of 1 million jobs over six months would be a "substantive" improvement, but bringing unemployment down to the key level of 6.5 percent was likely to take much longer, probably until mid-2015, he said, speaking at the Asian Financial Forum in Hong Kong.

Read more: http://www.reuters.com/article/2013/01/14/us-usa-fed-evans-idUSBRE90D01920130114

[fasttense]

1. And they did it all by not only do nothing to create jobs

But by compounding the recession through forced austerity.

It's amazing how the numbers improve despite the hardship most people are experiencing.

Here we have over 12% unemployment; obviously a successful economy does not need us. We are disposable.