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- DB: "We wonder whether the Fed is being too pessimistic in its unemployment projections”
DB: "We wonder whether the Fed is being too pessimistic in its unemployment projections”
"We wonder whether the Fed is being too pessimistic in its unemployment projections because our analysis suggests the rate could decline significantly further over the next 12 months-much more than what is assumed in the Fed's forecasts. If this happens, the timing of the Fed's first rate hike will be brought forward from late 2014 into either early 2014 or possibly the second half of 2013."
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