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July's Employment Report And Its Effect On The Fed

Friday, August 6, 2010 - 6:14 PM
July's employment report is not good news for savers waiting for the Fed to hike rates. From the Associated Press:
The unemployment rate was stuck at 9.5 percent for the second straight month, the Labor Department said Friday. Analysts said it would probably climb back into double digits because the private sector is not creating jobs fast enough.
The weak report could put pressure on the Federal Reserve to take new steps to boost the economy when it meets next week.

Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634