Fed ' Up

This blog has stated, many times, that it will take a long time for a recovery in the United States.

http://www.youtube.com/watch?v=oaUB5kXCe8g

Now the Fed seems to state what has seemed obvious to analytical minds for a few years.

America's revival will take years: Fed Reserve - The Economic Times: "America's central bank has slashed its outlook for the US economy projecting that jobless rate could exceed 8 percent for two more years and it could take several years for the economy to return to health.

According to minutes from the Federal Reserve's Nov 3 meeting released Tuesday, more than half of the central bank's policymakers thought it would take about five or six years for unemployment, growth and inflation to return to more normal levels.

Other Fed members warned the full recovery could take even longer than that.

The much weaker forecast is the major reason that policymakers decided earlier this month to announce a plan to try and jumpstart growth by pumping an additional $600 billion into the economy through the purchase of long-term bonds, according to CNNMoney.."