Federal Reserve Economic Projections

Today, the US Federal Reserve released its Economic Projections through 2017, and beyond. The keynotes were unemployment reaching 4.9-5.3%, by 2017. This, however, is with GDP growth at between 2.3% to 2.5%. Questions remain as to the strength of the economy with such shallow GDP projections. Inflation is set to top out at 2.0%, in 2017; starting at around 1.6% to 1.9 % in 2015. Let us hope that that goes for wages as well. What was startling is that core inflation, that is projections minus the volatile fluctuations of food and gas, were estimated at between 1.6 to 1.9 % for 2015. Equal to that of regular PCE inflation. There is wonder if the expectation that gas prices will stay dormant through 2016 was a factor in the calculation. Based on the estimates no one surveyed expects the federal funds rate to be below 2% by 2017. In 2015, the top expected rate was 2.0%. source

Janey Yellen, FED Chairman

 

Paul Krugman 1998, Clinton Economic Collapse

Paul Krugman

NEW YORK — The stock market took its worst tumble in nine months Tuesday, as big investors seized on a wide range of fears to dump shares across the board. On the second-heaviest trading day in New York Stock Exchange history, the Dow Jones industrial average plunged 299.43 points, or 3.4%, to 8,487.31, the biggest drop since the 554-point, 7.2% sell-off of last Oct. 27. source

Goldman Sachs situates itself in Philly

WHO:        Mayor Michael A. Nutter

                   Councilman Kenyatta Johnson

               Dan Nissenbaum, Managing Director, Goldman Sachs

               Goldman Sachs 10,000 Small Businesses alumni:

Michael Brown, Environmental Construction Services

Rich Podulka, United American Builders

Blane F. Stoddart, BFW Group

WHAT:      Mayor Nutter, joined by graduates of the Goldman Sachs 10,000 Small Businesses initiative, will cut the ribbon on the new shared office space for Environmental Construction Services, United American Builders and BFW Group.  The businesses will be located in Quarters M-1 at The Navy Yard, a renovated, 5,300-square foot building which was previously used as a former officer’s quarters and overlooks the Reserve Basin.

WHERE:   The Navy Yard, Building M-1, 4623 S. Broad Street

WHEN:      Wednesday, December 17, 2014                          4:00 PM

White House Notes

 

The President granted commutations of sentence to the following eight individuals:

  • Sidney Earl Johnson, Jr. – Mobile, AL
Offense:  Conspiracy to distribute and possess with intent to distribute cocaine base; possession with intent to distribute cocaine base; use of a communication facility to commit a felony (Southern District of Alabama)
Sentence:  Life imprisonment; 10 years’ supervised release (Apr. 13, 1994)
Commutation Grant:  Prison sentence commuted to expire on June 12, 2015.
  • Cathy Lee Jones – Portsmouth, VA
Offense:  Conspiracy to possess with intent to distribute and distribute heroin and cocaine base (Eastern District of Virginia)
Sentence:  262 months’ imprisonment; five years’ supervised release (Apr. 29, 2003)
Commutation Grant:  Prison sentence commuted to expire on April 15, 2015.
  • Rickey Marcell McCall – Birmingham, AL 
 

Fox News

 

ASG News

 
 

Economic Indicators

Indicator

Change

GDP

4.6%

CPI

1.7%

PPI

0.2%

UI*

5.8%

SP500

40.15

Dow

288.00

30 Yr*

3.07%

*Total Rate


 

Here is the Rub

The markets all hit red, at the thought of Bloomberg's news that the Clinton's might be returning to the White House. S&P was down 15.06, the Dow closed 106.31 in the negative, and the NASDAQ took off 40.06 points. Dec. 8th 2014

Who's Online

We have 5 guests and no members online

WSJ

 

College Republicans

 

The Briefing Room

Famous Quote

The invisible hand of the market always moves faster and better than the heavy hand of government.
Mitt Romney

Chris Christie