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The unemployment was 3.5% (tied for the lowest since 1969), increased to 3.7% when enough people re-joined the workforce. But the Fed would really like to see unemployment in the 4% to 6% range to tame inflation.
Billionaire: The Fed won’t say it out loud, but it really wants a higher unemployment rate (msn.com)
Some people think that an omnipotent Fed is not such a good thing and that inter-agency cooperation is necessary to bring down inflation:
What if we’re fighting inflation all wrong? (msn.com)
The Fed, for its part, says there’s no end in sight for the economic pain:
Federal Reserve Warns No End in Sight for Inflation and Economic Pain | Watch (msn.com)
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