And the most hilariously overblown story of the wek goes to... Pessimistic Fed to slash growth forecasts
Yes, the Fed governors are due to come out with new economic outlook numbers, and they'll probably be revised down.
This is a snooze because for one thing, last week the Survey of Professional Forecasters already lowered their numbers, and they're obviously using the same numbers and models as everyone else. So it's old news.
And what's more it's the Fed: Since when do people consider the Fed to be ahead of the curve? Never, really, except it seems when they're bearish.
Watch the data, and not the economists.
For more on what pro forecasters foresee, click here >
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Full story at http://feedproxy.google.com/~r/businessinsider/~3/Q-MQPeeVncE/fed-to-lower-growth-outlook-2010-11
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