“Federal Reserve Slashes Outlook For U.S. Growth” (TIMES, 11/3/11)

     Once again the Federal Reserve “overestimated the nation’s recovery from the 2008 financial crisis.”

     Isn’t it time for the  Federal Reserve to acknowledge that there was no recovery?  For months various economists have been identifying it as “anemic,” which is a revelation that it did not happen.

     If “reductions” in unemployment “come in part from people abandoning the search for work,” it contradicts the claim that unemployment is being reduced.

     Enough of this economic double talk and enough of Ben Bernanke!  When we get a more competent successor, maybe the Federal Reserve will recognize that the problem is unemployment, not inflation. 


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