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World Income Inequality Even Worse Than Within U.S.: St. Louis Fed

The income gap between rich and poor nations is more severe than the more highly publicized disparities between the top and bottom of the U.S. income ladder, according to a new study from the Federal Reserve Bank of St. Louis.
“While not to diminish the ample income inequality in the U.S., a focus on absolute inequality would suggest income disparity among the world’s population is a far greater concern,” write Lowell Ricketts and Christopher Waller, economic researchers at the St. Louis Fed.


Source: http://blogs.wsj.com/economics/2014/07/31/world-income-inequality-even-worse-than-within-u-s-st-louis-fed/?mod=WSJBlog

What to Watch for in Friday’s July Jobs Report

The first half of 2014 saw the U.S. economy’s strongest stretch of hiring since early 2006. The jobless rate fell to 6.1% in June from 7.5% a year earlier, its fastest one-year decline since October 1984, and nonfarm employers added a seasonally adjusted 288,000 jobs.


Source: http://blogs.wsj.com/economics/2014/07/31/what-to-watch-for-in-fridays-july-jobs-report/?mod=WSJBlog

Long-Term Unemployed Likely to Return to Job Market, Study Finds

The long-running debate about the causes of America’s high rate of long-term unemployment is far from settled. A new working paper from the National Bureau of Economic Research wades into the discussion and its findings fall squarely on the side of those who see the labor market’s woes as a product of a weak business cycle.


Source: http://blogs.wsj.com/economics/2014/07/31/long-term-unemployed-likely-to-return-to-job-market-study-finds/?mod=WSJBlog

Economists React to the FOMC Statement: ‘Mixed Messages’

The Federal Reserve said Wednesday it would scale back its monthly bond purchases to $25 billion and offered a modestly more upbeat assessment of the inflation, jobs and the economy. Economists largely said the announcement came in as expected, but that subtle changes indicate Fed officials see general improvement in the U.S. economy.


Source: http://blogs.wsj.com/economics/2014/07/30/economists-react-to-the-fomc-statement-mixed-messages/?mod=WSJBlog

Parsing the Fed: How the Statement Changed

The Federal Reserve releases a statement at the conclusion of each of its policy-setting meetings, outlining the central bank’s economic outlook and the actions it plans to take. Much of the statement remains the same from meeting to meeting. Fed watchers closely parse changes between statements to see how the Fed’s views are evolving. The following tool compares the latest statement with its immediate predecessor and highlights where policy makers have updated their language. This is the July statement compared with June.


Source: http://blogs.wsj.com/economics/2014/07/30/parsing-the-fed-how-the-statement-changed-40/?mod=WSJBlog

Hilsenrath: Modest Growth Beneath the Surface Keeps Fed on Track

Wednesday’s surprisingly strong report on second-quarter economic growth should keep the Federal Reserve on track to finish its bond-buying program in October, while intensifying the debate about when to start raising short-term interest rates without resolving it.


Source: http://blogs.wsj.com/economics/2014/07/30/hilsenrath-modest-growth-beneath-the-surface-keeps-fed-on-track/?mod=WSJBlog
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