Fed forecasts a gloomy year ahead!

Well the markets were waiting for the Fed minutes and they are out now, the Fed forecasts a gloomy period ahead and with the unemployment bound to shoot up in the first quarter of the next year. This is not exactly an unexpected news but everyone were hoping that the Fed would do a magicians trick and wave its wand and make the whole Subprime and Housing disaster go away!
That is easier said than done, it is not all gloomy with the consumer index showing some signs of life.But come on, with such huge crisis like the Subprime and the Housing markets, there is bound to be some sort of a long term impact on the economy as a whole. It is going to be a tough road to walk on for the next few quarters and there is no going around this, this is one road that we all have to just grit our teeth and walk. After all, it is only when the things start getting tough, the tough starts going, so lets do that.

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