Fed vs. Fed: Recovery?

Bloomberg:

The Federal Reserve panel in charge of interest rates declared for the first time the U.S. economy is in “recovery” and took several steps to prepare investors for the removal of aggressive monetary stimulus

Uh-huh.

Calculated Risk:

Although the CFNAI-MA3 improved slightly in December, the index is still negative. According to Chicago Fed, it is still early to call the official recession over.

If you look at the CFNAI-MA3 chart closely, you see a 'hitch' in the giddyup; that may well be the prognostication of the second part of the "double dip."

Ugh.