What Green Shoots?

Some Federal Reserve officials are open to raising the amounts of mortgage and Treasury securities purchase programs beyond the $1.75 trillion that they've already committed to buying, according to minutes from the Fed's April meeting.

Officials, meanwhile, projected an even deeper recession than they expected three months earlier and a more sluggish recovery over the next two years as labor markets remain under pressure. The unemployment rate is expected to end 2009 between 9.2% and 9.6%, and stay above 9% in 2010.

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posted by Peter Greene