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