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Federal Reserve Predicts Economic Turnaround This Year   February 11th, 2009
Yet another report suggesting stimulus isn't necesary       


More observations...

A top official of the Federal Reserve has indicated that it's likely the economy will turnaround this year and be at 2.5% growth by next year.


The economy will begin to recover later this year, but it will be much longer before growth returns to a solid, sustainable pace, a top Federal Reserve official said Wednesday. Growth won't reach "potential" or roughly a 2.5% growth rate until some time in 2010, said Charles Evans, the president of the Chicago Federal Reserve Bank.

This is yet the latest indication that the economy can recover without a mind-boggling $800 billion stimulus package that is being rammed through Congress by President Obama and other Democrats.

Yes, there will be some unemployment. That's just a fact of life in a recession. But seeing as how there are more and more experts predicting a turnaround for later this year--before any substantial stimulus money can reach the economy anyway--it seems increasingly like a waste of money to borrow and spend $800 billion to turn around an economy that's expected to turn around by itself.

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