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Thursday, June 7, 2012
Friday, June 1, 2012
Jobs disappointment raises probability of QE3
US jobs data fuels QE3 fire – Financial Post, Jonathan Ratner
Disappointing U.S. job data is providing further ammunition for supporters of another round of outright quantitative easing, as opposed to extending operation twist.
The U.S. labour market added just 69,000 jobs in May, falling well short of consensus estimates of 150,000. More bad news came as negative revisions to the prior three months took out another 49,000 jobs. The unemployment rate edged up to 8.2% from 8.1%.
“This report is a serious boost to QE3 prospects…” said Derek Holt, economist at Scotiabank. “On both headline and details, the Fed’s full employment half to their dual mandate was sharply disappointed here and both in terms of the current month and backward revisions.”
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