Bernacke: Don't Worry, I Got This, Everything's Going According To Plan
(PS, Inflation Will Be Higher And Growth Will Be Lower, and, Sidenote, Unemployment Will Remain as High as 9%)

Gee, it's almost as if Obama tied his good-news document dump (not on a Friday) as a -- get this -- distraction from the day's genuine news.

Slower growth than we have now, and it's not so good, now, either, plus inflation rising to 2.1% to 2.8%, or 1.3% to 1.6% in the core rate. (No, I don't know what the difference is either, except neither's good.)

As for unemployment, it lowered its forecast but said it would stay elevated over its three-year forecast period. For 2011, the Fed said it expects the unemployment rate to land in a 8.4-8.7 percent range, better than a range of 8.8-9.0 percent forecast in January.

"The markdown of growth in 2011, in particular, reflects the somewhat slower than anticipated pace of growth in the first quarter," Bernanke said in prepared remarks before he took reporter questions.

Well that's just wonderful.

Inigo Montoya just emailed me:

This word Integrative Complexity you keep using. I dunna think it means what you think it means.

(PS, Inflation Will Be Higher And Growth Will Be Lower, and, Sidenote, Unemployment Will Remain as High as 9%)&bodytext=Gee, it's almost as if Obama tied his good-news document dump (not on a Friday) as a -- get this -- distraction from the day's genuine news. Slower growth than we have now, and it's not so good, now, either,...&topic=world_news"> posted by Ace at 10:20 PM

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