Word: ghaffari
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Dates: during 2010-2019
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Unemployment is the wild card in all of this, and that's where the outlook gets murky and experts' crystal balls differ. Karen Ghaffari, a managing director at Fitch Ratings, expects unemployment to peak in the second quarter at 10.4% before slowly starting to decline. "It will average 10.2% for the year," which will impact consumer spending and confidence, she says. Howard Davidowitz, chairman of Davidowitz & Associates, a retail-consulting and investment-banking firm, is even more bearish, predicting unemployment will hit 11% before it peaks. "I think we're in for a very rough year...