While the "adverse effects" the Fed expressed concern about may ultimately show themselves, the collective economic picture has been fair to even pretty good, overall. Even with recent revisions suggesting that hiring remains soft, there has been no outright decline in hiring, and reasonably full employment levels should help the economy to continue to move forward. New claims for unemployment benefits eased back during the week of October 6, falling by 12,000 to land at 308,000 and those claim numbers continue to travel in a narrow band from about 300,000 to about 330,000. However, Slowly rising "continuing claims" numbers do point to an increase in difficulty in finding a new job for some folks.
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