Will the Job Market Ever Get Better? (CNN.com): “Even if the Labor Department says the unemployment rate didn’t rise in June, there’s little hope that payrolls grew very much, if any. Payrolls have fallen year-over-year for 23 straight months, according to Labor Department data, and could very well add another month in June, extending the worst stretch for the labor market since World War II.”
Central Banker Roundup (Economist.com): In spite of questions about the Fed’s handling of the boom years of the late 1990s, Mr Greenspan is still generally regarded as having done a good job. That view might change if the economy fails to regain momentum this year or, worse, if deflation becomes more of a worry. Doubts persist, though, about the extent to which monetary policy in a large economy should be dominated by one man. Pressure in America for a more detailed framework is likely to grow. Meanwhile, if Mr King is right about a bumpier ride for the Bank of England in the coming years, he will be grateful that the MPC is there to share the blame.
Posted by Mises.org News
