America's economy | It ain't easy | Economist.com

America's economy It ain't easy Economist.com:
Sep 13th 2007 From The Economist print edition
It is dangerous for the markets to expect too much from the Fed LAST month's jobs figures were depressing but useful: they clarified what the Federal Reserve needs to do when it meets on September 18th. Not only did the American economy shed 4,000 jobs in August (rather than gaining some 100,000 as most forecasters had predicted), but revisions to earlier figures showed that the pace of employment growth has been slowing sharply for several months. The numbers suggest that America's economy was sputtering well before the credit crisis.