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Expectations for the economy, the Fed and the fiscal cliff are intertwined and actions in each area influence actions in the other areas such that there are no silos in economics – or in policy. Fed action is not independent of economic expectations nor fiscal policy expectations. Therefore financial markets are caught in this recursive process of the economy, policy reaction and then [...]
It’s back to reality for the jobs situation; the economy added a lowly 96,000 nonfarm payroll jobs during August while the July report was revised lower to a monthly gain of 141,000 from a previously reported increase of 163,000. Investors should anticipate a similarly weak employment picture going forward as the economy is simply not advancing at a pace sufficient to engender desirable [...]
