Republican Voters Don't Agree With Fed on Economy
Despite the Fed's cautious guidance, a large number of Republican voters do think the economy is getting worse.
Dorrien, whose recent book "The Obama Question: A Progressive Perspective" offers a critique of the successes and failures of Obama's term as president, said he can sympathize with the chunk of Americans who can't find work, and he even contended that Obama likely wasn't ready for the economic collapse that's unfolded since his 2008 victory.
"Frankly, he wasn't ready. I mean he needed, even now, he thinks he needs [Treasury Secretary Timothy] Geithner -- he took Geithner's wife for a walk a few months ago and said, 'Please, don't let him resign,'" Dorrien said in reference to a November 2011 New York Times report. "I think Obama has gotten clear about what didn't work for him in his first term, and he's gotten clear about what his presidency needs to be about."
If Fed Chairman Ben Bernanke and the central bank decide to enact any monetary policy between now and the election, it would likely take a while for it to have an effect on real output, pricing and unemployment.Though the Fed generally sees economic activity expanding, it has also said that downside risk remains, which is the guidance many Republican-base voters are criticizing. The Fed has forecast continued moderate economic growth and gradual declines in unemployment. This would seem to bode well for Obama as voters might be more willing to offer him a second term with the prospects of a healing economy. But a sudden disturbance could sway a majority of the American electorate to side with Republican pessimists. -- Written by Joe Deaux in New York. >Contact by Email. >Follow Joe Deaux on Twitter. Subscribe on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV