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Showing blog posts tagged with Federal Reserve

Despite 195,000 New Jobs, Jobless Rate Remains 7.6%

Despite 195,000 New Jobs, Jobless Rate Remains 7.6%

The nation’s economy added 195,000 new jobs in June and the jobless rate remained at 7.6%, according to  figures released this morning  by the U.S. Bureau of Labor Statistics (BLS).But economists say the growth rate is far too slow to fuel a healthy jobs recovery.

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Yellen: Fed Goal Is 'Maximum Employment' by Taking 'Forceful Action'

Today at the Trans-Atlantic Agenda for Shared Prosperity conference held at the AFL-CIO, Janet Yellen, vice chair of the Board of Governors of the Federal Reserve, talked about the reasons why the recent economic downturn has been painful particularly for America's workers and what the Federal Reserve's role is in reaching maximum employment.The problem with the economy is the lack of demand and current fiscal policy is not helping. Yellen said the Federal Reserve is committed to action that will create jobs and produce economic growth. 

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Thomas Palley: The Fed’s 2% Inflation Target Trap

The Federal Reserve recently adopted a two percent inflation target, reports Thomas Palley, AFL-CIO senior economic policy advisor. The Fed should be looking at policies that improve wages, not ones that will undercut the possibility of future wage increases and make it more difficult to achieve full employment, Palley writes In an Op-Ed published in the Economists' Forum blog titled, " The Fed's 2% Inflation Target Trap.

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Economics 101 for the 99%

Economics 101 for the 99%

How did Wall Street get away with crashing the U.S. economy?  Its inner circle spoke a “language” only one percent of the public could understand. Now, a new booklet explains its jargon to the rest of the country.

“Economics for the 99%” serves as an economic translation dictionary, clarifying Wall Street’s “bankspeak,” explaining the  role of the Federal Reserve, as well as the so-called austerity war. 

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