I think the party at Ben & Janet’s will continue.
I think most of the “progress” on unemployment is due to part timers being hired to supplement full timers being demoted to 29ers to avoid Obamacare.
Will you display your stolen charts?
I'm betting no.
Why did the Federal Reserve announce a specific target of 6.5% unemployment for beginning to taper, except to provide some stability to the financial markets?
With a specific 6.5% figure, investors could at least believe they were making reasonable decisions about their investments. But if the Fed discards its 6.5% tapering standard on a whim, that will destroy the Fed’s credibility on future promises.
Can anyone in Washington be trusted to tell the truth? If not, we’re no more stable than a banana republic, and we’ll soon have high banana-republic-type interest rates no matter what the Fed decides to do, because investors will demand a premium for buying our bonds, having concluded that our leaders are no more trustworthy than snake-oil salesmen.
Several times recently, propaganda releases have erroneously/disonestly stated that the Fed would “taper,” stop QE, stop buying bonds, etc. It didn’t happen any of those times. They’re trying to drive foreign currencies and freight down to continue importing much.
bump for later.