Even Rosie Scenario Is Blushing At Fed’s Projections Of Economic Perfection, World Without End!

Goldilocks herself would blush at such a near-perfect scenario. Consider that January 1966 is the only month since 1960 that unemployment has been below 4 percent with inflation being south of 2 percent. The Fed’s projections out through 2021 do not simply suggest we will go there but that we will stay there for an awfully long time. Such fairy tales would accomplish something: They would fill the empty quadrant that has but that sole occupant at the moment.