Sun, Sep 08, 2013 - Page 13 News List

US unemployment hits four-year low

STRUGGLING:Weaker-than-expected US jobs figures for last month are expected to influence the Federal Reserve’s scale-back of its quantitative easing measures

Reuters, WASHINGTON

Kansas City Fed President Esther George, a consistent hawk, said the central bank should start paring the bond purchases this month by about US$15 billion “to begin a gradual — and predictable — normalization of policy.”

The jobs report suggested the economy was struggling to regain momentum after stumbling early in the third quarter. Consumer spending, home building, new home sales, durable goods orders and industrial production weakened in July.

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