US Fed set to hold rates steady as job losses rise

[NNN0LHI]

http://www.channelnewsasia.com/stories/economicnews/view/49079/1/.html

A persistently weak US jobs market will force Federal Reserve policymakers to hold key interest rates at a 45-year low of 1.0 percent this week even as the rest of the economy springs to life, analysts said.

Federal Reserve chairman Alan Greenspan and his colleagues meet Tuesday as signs mount that gross domestic product may expand at a strong five-percent annual pace in the third quarter.

US employers unexpectedly slashed 93,000 jobs in August, taking seven months of uninterrupted losses to 595,000 jobs.

A report by Lehman Brothers economists said the key to Fed thinking at this meeting would be the painfully slow recovery in the labour market.

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[Dogmudgeon]

1. And this will help me get a job ... how?

I could just need another tax cut. Yes, I could use another tax cut right about now. What's the tax on the $3800 I've made since January first?

Maybe Bush and the Fed can also reduce the force of gravity from 9.8 meters per second squared to, oh, three or four meters per second squared. Yeah, that would be nice, too.

--bkl
TANSTAAFM -- There Ain't No Such Thing As A Free Market

[mhr]

2. Wow $ 3,800 Since January

I'm jealous!

I've made $ 0.0 dollars since January.

Been unemployed a long time now.