The News is Bad

The monthly jobless report came out this morning and was weaker than expected.  Unemployment held steady at 9.1% and no net new jobs were created in August.  Crucial questions going forward will include what President Obama’s jobs plan/speech will offer next week, what (if anything) the Fed might do now (or soon), and what (if anything) the Fed can do. Surely, the economic news remains lousy.

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