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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

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Dec 11 4:00 PM EST

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To: Sam who wrote (49245)	11/22/2010 12:28:38 AM
From: FJB	2 Recommendations Read Replies (1) of 95572

Pessimistic Fed to slash growth forecasts By Robin Harding in Washington Published: November 21 2010 20:07 \| Last updated: November 21 2010 20:07 ft.com The US Federal Reserve will slash its growth forecasts and predict higher unemployment when it releases updated economic projections this week. The Fed will release the latest forecasts made by members of its rate-setting open market committee on Tuesday, alongside the minutes of their November meeting, giving a complete picture of why they launched a new $600bn round of asset purchases. The revised forecasts will show how the Fed became much more pessimistic over the summer and also highlight fears among a few members of the FOMC that some of today’s 9.6 per cent unemployment rate is structural and will take years to cure. When the FOMC published its last forecasts in June most members thought that 2011 growth would be between 3.5 and 4.2 per cent, but many now think growth will be between 3 and 3.5 per cent, and some expect less than that. FOMC members have made particularly aggressive upward revisions to their unemployment forecasts, with a large number now predicting that it will still be 8 per cent or above at the end of 2012, compared to the 7.1 to 7.5 per cent that they forecast in June. Continues...

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