QUOTE (NorthSideSox72 @ Jan 29, 2010 -> 10:58 AM)
That is not nearly the same thing. Saying they have a target to gauge need for stimulus, or making a guessed projection, is NOT the same as saying "the UE rate will not go above 8%", which would be a stupid thing to say. And he never said it, that I have seen.
Making a lowball estimate for the unemployment you're basing your stimulus on when your interest rates are up against the zero bound and there is essentially zero risk in doing too large of a stimulus and large risk in doing too small of a stimulus is just as stupid, if not more so.