Fed’s new five year plan: World will be perfect
The Federal Reserve made a dramatic change in procedure today. In their quest to provide more “openess and transparency,” the Fed now provides their “long range” (five to six year) forecast for US economic performance. Click here for the official Fed release.
The first Five Year Plan was released with their Monthly Minutes at 2:00pm today. The results:
Real GDP: 2.5 to 2.7 percent
Unemployment: 4.8 to 5.0 percent
Inflation: 1.7 to 2.0 percent
Upon reading the forecast, Rocky was tempted to aggressively buy stocks, real estate and US dollars for all of a yoctosecond. Instead, he put his phone down, and devised his own five-year forecast with a probability of accuracy no worse than the Fed’s.
1) Global peace.
2) End of famine.
3) Dow Jones 36000
4) American Idol is canceled by Fox Broadcasting.
It’s good to be an optimist.