Economy needs time to improve

Townhall.com Staff
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Posted: Jun 14, 2011 10:23 AM
Economy needs time to improve
WASHINGTON -- The best cure for the U.S. economy now is time.

That’s the overwhelming opinion of leading economists in a new Associated Press survey. They say the Federal Reserve shouldn’t bother trying to stimulate the economy — and could actually do damage if it did.

The economists are lowering their forecasts for job creation and economic growth for the rest of this year, mainly because of high oil prices. Bleak data over the past month has suggested that the 2-year-old economic recovery is slowing.

The economists now expect the nation to create 1.9?million jobs this year, about 200,000 fewer than when they were last surveyed eight weeks ago. They expect the unemployment rate, now 9.1 percent, to be 8.7 percent at year’s end. Before, they expected 8.4 percent.

Read more: http://www.miamiherald.com/2011/06/14/2265203/economy-needs-time-to-improve.html#ixzz1PGCGFda6