Daily Archives: August 2, 2013

By James Politi in Washington

Capping a week flooded with US economic data, July’s job figures are out. So, what did we learn this time around?

 


1) A mixed bag but the jobs report could favour a later taper

Federal Reserve officials hoping that the July jobs report would provide a decisive answer to their dilemma over when to start tapering the asset purchases are likely to have been sorely disappointed.
The data were a classic mixed bag – with the unemployment rate dropping 0.2 percentage points from 7.6 per cent to 7.4 per cent but payroll growth slowed, running below expectations.

 Read more

♦ Barack Obama said “you would have to slice the salami very thin” to find policy differences between Lawrence Summers and Janet Yellen, who are now in the running to chair the Federal Reserve. The FT’s Robin Harding takes a look at the salami.
♦ Russia is spending $51bn on sports facilities in Sochi for the 2013 Winter Olympics, but developers fear the only winners will be friends of the Kremlin.
♦ A Nazi gaffe by Taro Aso, Shinzo Abe’s deputy premier and finance minister, is a reminder that the cultural conservatives, who dominate the ruling Liberal Democratic party, have not abandoned their revisionist dream.
♦ Tendai Biti, Zimbabwe’s finance minister, tries to find out where the busloads of voters at Mount Pleasant have come from, but the bus driver is unable to tell him. Read more