It's more bad news for us savers waiting for the Fed to hike interest rates. This report issued by UCLA Anderson forecasts a slow recovery with a slow improvement in unemployment. According to the Silicon Valley / San Jose Business Journal
"Tepid growth leaves plenty of excess capacity, subdued pricing power and very little inflation. This will allow the Federal Reserve to postpone interest rate increases that the forecast expects to come late this year or early next, as the sustainability of a modest recovery becomes clear and as the need for preemptive action against future inflation begins to dominate monetary policy decisions," according to the report.