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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (4993)	1/13/2004 7:38:55 PM
From: mishedlo	Read Replies (3) \| Respond to of 110194

Here's a TOTALLY clueless idiot at the FED Fed's Pianalto says lack of jobs is a puzzle By Greg Robb WASHINGTON (CBS.MW) -- The lack of job growth at this stage of the economic recovery is a puzzle, said Sandra Pianalto, the president of the Federal Reserve Bank of Cleveland. "Unfortunately, employment growth in this phase of the current cycle is the slowest in 50 years, a situation that remains something of a puzzle," Pianalto said in a speech prepared for delivery at Kent State University. "Ordinarily, at this stage of a business cycle, the level of employment returns to -- or exceeds -- its level prior to the onset of the last recession," she said. Pianalto, a voting member of the Federal Open Market Committee this year, said the lack of job growth may be due to a mismatch between the skills of the labor force and the needs of business in an era of high technological change.