Fed Officials More Confident Recession is Ending

[sabra]

Source: CNBC/AP

With the economy on the mend, Federal Reserve policymakers last month felt comfortable slowing the pace of one of its economic revival programs and not changing any others, according to documents released Wednesday.

Minutes of the central bank's closed door deliberations, held Aug. 11-12, also showed Fed Chairman Ben Bernanke and his colleagues striking a much more hopeful note about the economy's prospects compared with an assessment made in late June. Many Fed officials saw "smaller downside risks," the documents stated.

Fed officials expected the pace of the recovery to "pick up" in 2010, but there was a range of views — and considerable uncertainty — about the likely strength of the upturn because of concerns about how consumers will behave.

After being pounded by the recession, consumer spending finally appeared to be leveling out, the housing market was firming and manufacturing was stabilizing, the Fed said. Plus, the outlook for other countries' economies improved, auguring well for the sale of U.S. exports.

Read more: http://www.cnbc.com/id/32658495

[DJ13]

1. They are trying too hard to see the end

And it could easily come back to bite them on the ass if they continue claiming improvement while the average American doesnt see any improvement in their daily life.

Doesnt anybody remember the lesson from Marie Antoinette?

[WriteDown]

2. Streamers and confetti are ready nt.

[aquart]

3. Oh, what utter crap.

What are they talking about? Full CEO employment?

[Warpy]

4. In other words, the bankers are still on top, no new regulations

have been enacted to trouble them, and the rich can go back to watching their numbers get bigger instead of smaller.

Such is the myopia of the Fed.

I think they're wrong. Unless the systemic problems are fixed, we'll continue to have bubbles and busts and the economy will continue to worsen.

[vinylsolution]

11. This is nothing more than the rich....

.... re-inflating their own bubble.

Here we go again....

[Skittles]

5. they have their heads up their ass

LOOK AROUND, FUCKERS - ask the PEOPLE how they're doing

[Don Caballero]

6. Not all stimulus funds have been used

We must remember that not all funds from the stimulus have been utilized. The green shoots are coming more frequently than in the last couple of months. I am seeing more and more people smiling and looking hopeful than before.

[kestrel91316]

7. Things are looking more optimistic from my perspective here in the trenches.

And I am heartened by that, because we also were the first to feel the slump, long before it was officially acknowledged.

My clients, almost to a person, are less frightened, and most are actually cautiously optimistic, AND HAPPY WITH OBAMA'S APPROACH.

[Amerigo Vespucci]

8. Looks like Fed Officials surfed MSNBC this morning

"Productivity Gains" don't necessarily spell "recovery"...maybe in the eyes of the Fed:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=6446961&mesg_id=6446961

[tclambert]

9. The problem is when the recession ends, the recovery just begins

and recovery can take a long, long time. Technically, to economists, the recession ends when we hit bottom. The second half of the "misery," the rise back up to where we started from, isn't technically part of what they call the recession. Just everybody else calls it that.

[biermeister]

10. www.auditthefed.com- sign the petition! nt

[DollyM]

12. when we are able to find jobs, I will believe the recession is ending!

My husband lost his job one year ago in October, I lost mine one year ago in November. Unemployment ended in June, my 81 year old mother is supporting us and we are living hand to mouth. My husband was at least getting interview last year, but nothing since January. We still send out resumes but we are competing with so many other people it is just nuts out there. I feel like starved animals jumping on any meat carcass we can find and still coming up empty handed. Oh yeah, we have Masters degrees and can't find jobs on any end of the the job spectrum. We are also 48 and 56 which also makes us pretty much unemployable. Too young to retire but too old to get a job it seems. What great system we have here.

[Donnachaidh]

13. total bullshit -- tell it to the MILLIONS of unemployed.

Oh wait - THEY don't exist. They've been disappeared... :grr:

[rhett o rick]

14. You are trying to destroy this "recovery". The whole idea of bubble economics is that everyone

has to believe that things are looking up. More confidence, stronger bubble.

The unemployed should just put their money in the stock market or on roulette wheel number 22. And dont forget, the disadvantaged always have the lotto. What more can they hope for.

Actual jobs are soo last decade.

I appologize for feeling like I have to do this but for those that need it: :sarcasm: Jeez

[DueDiligence]

15. Okay, I'm going to take your advice...

Number 22 it is! Cross your fingers for me.

[rhett o rick]

17. I hope you saw the movie, "Lost in America". Great funny movie. nt

[Donnachaidh]

16. yeah, confidence doesn't pay bills or put food on the table

As we're one of those families, I really find nothing funny in your humor attempt.

[rhett o rick]

18. I was mocking the idea of recovery based on an upturn in wall street. I am on your side. nt

[Odin2005]

19. Employment is a lagging indicator.

Learn some macro-economics.

[rhett o rick]

20. Yes the bubble is back, those living in their cars should just be patient. nt

[Donnachaidh]

22. yeah, they can just stay the heck out of the sight of the working *economists*

After all, why should working economists give a rat's ass about people? :sarcasm:

[Donnachaidh]

21. I got your macro economics right here.

STILL means that OVER half a million breathing HUMAN BEINGS are out of work, on top of the MILLIONS more already THERE.

Or is it easier to digest when you don't equate the HUMAN angle to the story? Sleep better at night? :sarcasm:

[Odin2005]

23. You think you can wave a magic wand and make everything better?

Magic wands are not going to help get those HUMAN BEINGS get jobs. Turning around the disaster that was the dominance for 30 years of Neo-Classical economics is not something that can be fixed overnight. The end of the recession is only the START of the recovery, that's why it's called a RECOVERY!!!