There s a worrying disconnect between how Fed officials look at the economy and the way workers experience it
Get the Full StoryChip Somodevilla GettyA new Federal Reserve survey shows four in 10 Americans could not afford a 400 emergency without going into debt, contradicting the predominant view among Fed officials that the economy is at "full employment."
The Fed's minutes, due for release later Wednesday, are likely to focus on the bright side of economic conditions in order to justify ongoing interest rate increases.
The Fed's own Community Advisory Council warns that "when the Federal Reserve chooses to raise interest rates, among the other results is higher unemployment levels and preservation of racial inequities in employment."
Federal Reserve officials don’t seem to be reading their own reports.
US central bankers have been touting a "full employment" economy for over a year now, ever since the jobless rate started approaching 4 .See the rest of the story at Business InsiderNOW WATCH: Why you should never release your pet goldfish into the wildSee Also:Signs are mounting that the economy is headed for a recession and Bernstein highlights an investment strategy that could help fend off the downturn'America First' should start with the plight of the country's abandoned Native populationOne of Wall Street s favorite forecasts for the US economy is looking red-hot, but it may not lastSEE ALSO: Jerome Powell drops a major hint into the true state of the job market and it suggests the Fed is making a big mistake
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