Today’s update on new filings for unemployment benefits brings a reprieve from last week’s disturbing surge in new claims. For the moment, we can breathe a sigh of relief. But while the trend has improved, it’s still not healthy.
Daily Archives: August 26, 2010
RATE DEBATE
Minneapolis Fed president Narayana Kocherlakota’s recent speech has unleashed a storm of criticism. The offending remark: “To sum up, over the long run, a low fed funds rate must lead to consistent—but low—levels of deflation.”