Wednesday’s Federal Open Market Committee (FOMC) statement indicates the Federal Reserve’s commitment to keeping long term interest rates and inflation under control.
Employers hired only 54,000 new workers in May, the fewest in eight months, and the unemployment rate rose to 9.1 percent. The Labor Department report offered startling evidence that the U.S. economy is slowing, hampered by high gas prices and natural disasters in Japan that have hurt U.S. manufacturers. The pace of hiring has weakenedContinue reading “U.S. jobless rate rises to 9.1%”