WKYT | Lexington, Kentucky | News

Latest Economic Numbers Bleaker Than Expected

WASHINGTON (AP) - The Federal Reserve has sharply downgraded its
projections for the country's economic performance this year,
predicting the economy will actually shrink and unemployment will
rise higher.
Under the new projections, the unemployment rate will rise to
between 8.5 and 8.8 percent this year, up from prior projections of
7.1 to 7.6 percent.
The bleaker outlook represents the growing toll of the worst
housing, credit and financial crises since the 1930s. All of those
negative forces have plunged the nation into a recession, now in
its second year.
According to documents on the Fed's updated economic outlook,
central bank officials "generally expected that the recovery would
be unusually gradual and prolonged."

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by j j Location: ky on Feb 20, 2009 at 05:32 AM
    to zatoichi and ray,yes the democrats has ben in control since 2006,but every time the democrats would bring up a bill old george would veto it.you might as well admit it,your party is why we are in this mess.maby next election we can boot the rest of the republicans out,sure sounds good to me.
  • by Ray Location: Hampton on Feb 19, 2009 at 06:56 PM
    Steve - they're moving the goalposts further back in order to give Zero a pass. The media is in his pocket, and will do their best to protect their Golden Boy. The DOW has tanked 13 percent since January 1st. If this were a Republican presidency, you'd never hear the end of it.
  • by Zatoichi Location: Richmond on Feb 19, 2009 at 10:30 AM
    Terri, what else do you looooong for from the Clinton years? Cigar?
  • by Terri Location: ky on Feb 18, 2009 at 02:47 PM
    The past 8 years of republican rule has all but ruined this country, I long for those Clinton days when all was well.
  • by steve on Feb 18, 2009 at 01:57 PM
    Oh no we will not let you get away with this that is not what you guys said when you were running for president you said i will fix it now you sound like you are craw fishing or going backwards we won't forget this.
  • by Ray Location: Hampton on Feb 18, 2009 at 01:42 PM
    >>All of those negative forces have plunged the nation into a recession, now in its second year.<< And the Democrats have been in control of Congress (the purse-strings of the nation) since 2006. Coincidence? Not bloody likely.


2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Register for Email
RSS Feeds
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 39795207 - wkyt.com/a?a=39795207
Gray Television, Inc.