Report: 98% of Professionals Have No F^%&ing Idea What Is Going To Happen

Monday, July 19, 2010 , 0 Comments


“NABE’s July 2010 Industry Survey confirms that the U.S. recovery continued through the second quarter, although at a slower pace than earlier in the year,” said William Strauss, senior economist at the Chicago Fed, in the report.

Fed officials trimmed their 2010 economic growth forecasts to between 3% and 3.5%, from a 3.2% to 3.7% range, according to the minutes of the June 22-23 policy-setting meeting. At the end of that meeting, the Fed maintained its stance that interest rates would remain at record-low levels for an extended period.

Last month’s Fed statement also noted tightening financial conditions from abroad, and the NABE survey found that over a third of companies were concerned about the European debt troubles.

Asked about whether the European turmoil could hurt business due to tighter credit, weaker European growth or a stronger dollar, 35% of firms said yes. Nearly all of those anticipated only a moderate impact, however.

Depending on how you read that either things look better or we have no idea what's going on, I'm not sure which it is.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.