Federal Reserve's FOMC Says Less Economic Growth for 2013-2014
The Federal Open Market Committee, or FOMC has lowered their GDP
growth projections for 2013 and 2014.  FOMC 4-12 gdp projections
At the same time the FOMC also lowered their unemployment rate
projections. How less economic growth will happen yet the
unemployment rate falls implies none too good news for America's
long term unemployed. In other words, lower labor participation
rates and people giving up and no longer counted is probably how
the unemployment rate will drop.  The committee blew off
outrageous gas prices as temporary and are sticking with their
core inflation annual rate of 2.0% using the personal
consumption expenditures price index.   Of course the Federal
Funds Rate is still the same.   Traders and markets are
scurrying, desperate to find any hint of more quantitative
easing. Traders are literally hanging on every word, hunting for
even a hint of QE3, which they did not get from the FOMC
statement.  Federal Reserve Chair Ben Ber