Janet Yellen (not pictured) faces her first test as the QE taper program runs up against a disappointing jobs number. Yes, it’s just one month. But in addition to the poor jobs number, retail sales have been week. Macy’s just announced some new layoffs. Alcoa kicked off earnings season with a miss. How strong is this economy? Will the Fed continue to taper, slow it down, or ease some more?
Ben Bernanke was known as Helicopter Ben, and many are thinking (out loud) that Yellen will be even more accommodative than Bernanke.
(Yes, another one of Maggie Q…)
Weak jobs growth unlikely to derail QE cuts: Fed officials
Jonathan Spicer and Krista Hughes
Reuters - Reuters - Friday, January 10, 2014
Another cut to bond purchases appears in the offing this month despite data that showed U.S. jobs growth slowed sharply in December, two top Federal Reserve officials said on Friday. The officials, from opposite sides of the U.S. central bank's spectrum of policymakers, reinforced public perceptions that it would take a more significant slowdown in the labor market to convince the Fed to stop withdrawing stimulus.
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