Jeff Thredgold, CSP, Economic Futurist
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Read this week’s Tea Leaf :

December 31, 2008
“I’ve Loved You So Long”
see jeff in action
entertaining and economist in the same sentence? yes
learn more about money and music

 

 

 

 

 

 

 

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Wednesday, December 31, 2008

 

 

 

The U.S. economy contracted at a 0.5% real (after inflation) annual rate during 2008’s July through September quarter. This compares to a 2.8% growth rate in the previous quarter.  According to the National Bureau of Economic Research, a recession officially began in December 2007

 

 

 

 

 

The U.S. unemployment rate jumped to a 15-year high of 6.7% in November 2008 from 6.5% in October. The U.S. economy lost an estimated 533,000 jobs in November.  Estimated job losses of September and October were revised higher by 199,000 positions

 

 

 

 

 

Consumer prices in 2007 rose 4.1%, the highest annual climb since 1990. We expect a much smaller rise in prices this year, with 2009 inflation pressures also more tame

 

 

 

 

 

 

The Federal Reserve cut its key federal funds target rate on December 16 to its lowest level on record. The Fed’s new target rate is actually a range of between 0.00% and 0.25%. This marks the tenth time in this latest cycle that the Fed has cut interest rates to stimulate the troubled economy.

 

 

 

 

 

 

We remain bullish on stocks

 

 

 

 

 

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