The Federal Reserve has good news and bad news. The economy has " strengthened somewhat."
But growth next year won't be as strong as had been assumed in June.
More troubling still, according to a Washington Post report, Fed officials
envision a very slow decline in unemployment beyond that, with the jobless rate falling to the 6.8 to 7.7 percent range by the end of 2014. That is still well above the 5.2 to 6 percent range that they view as the longer run jobless rate.
Politico's Ben Smith looks at the numbers and says, "In that landscape, one does wonder whether President Romney sticks to his hard opposition to economic stimulus."
Yes, one does wonder indeed.
I'm increasingly convinced it's not a matter of "if" this is going to happen, come a new Republican administration. It's what they're going to call it.
- Read about how government cuts are hurting labor market.
- See a collection of political cartoons on the GOP hopefuls.
- See a slideshow of how Rick Perry and Mitt Romney differ on economics.