JVB-BSullivan-Econ-Comment-081009

Broker Dealer / Institutional / Advisor Use Only August 10, 2009 ABOUT BILL SULLIVAN Jobs, clunkers, and the Fed The employment situation report for the William V. Sullivan, Jr. this year. As a result, a double digit jobless serves as Chief Economist month of July was interpreted by many rate before too long is distinctly possible, a at JVB Financial Group, observers as a turning point for U.S. labor development that will resonate in both the working closely with the market activity. Indeed, the moderate pace political and monetary policy arenas. firm’s trading desk, of job losses in relative terms was viewed as a In view of the potential for a further rise providing analysis and firm indication that the longstanding in the unemployment rate, the FOMC is still commentary on the U.S. recession was over and that the domestic likely to take a cautious approach regarding economy and the financial economy was poised for a significant the economy’s overall prospects. No doubt, markets. Among his duties recovery. While there is no doubt the data in the statement that will be issued at the are authoring a weekly weren’t as grim as earlier in the year, there report on credit market conclusion of the August policy convocation trends and maintaining a appeared to be several distortions that on Wednesday afternoon, the Committee will regular schedule of suggest a genuine improvement in the call attention to the ongoing improvement in conference calls that ...