In an announcement on FoxBusiness, it was just reported that the Fed has revised its 4th quarter employment estimates. Projecting that unemployment could reach as much as 10.1% by year's end, the Fed also stated that the jobless rate might remain above 10% for all of 2010.
The projection deals a serious blow to those expecting the housing market to begin a significant recovery and shows that the government is beginning to grasp the long-term implications of the recession.
