Will the US unemployment rate be 4.7% in July 2014?

From: Blog

In January, the Grumpy Economist gave us a look at a slide deck from Torsten Slok, chief international economist at Deutsche Bank. Among the interesting charts he posted was one that showed a correlation between the Fed balance sheet and the number of words in FOMC statements—both of which are on the rise. Now, he's sharing more from the same deck. Will the US unemployment rate be 4.7% in July 2014? Take a look at the comments section on the original post and you'll see that's not quite settled yet.
 —Chelsea Vail Cat:Policy, Markets,Sub:Economics, Finance,