today’s jobs number spells big trouble for the Federal Reserve and for President Obama. The magic number today was 100k and unfortunately American companies added only 80k jobs in June. After the small upward revision to the May report, non-farm payrolls were virtually unchanged. Federal Reserve officials hoped that today’s jobs number would allow them to coast on the monetary easing of other central banks and spare them from QE3. Unfortunately this won’t be the case.
http://www.bkassetmanagement.com/us-outlook/non-farm-payrolls-will-force-fed-to-keep-pace-with-ecb/
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