Fed Summary of Economic Projections 
The Fed projects the unemployment rate will hit 4.4 percent this year.The current unemployment rate is 4.1 percent.Unemployment Rate
Asymmetric Policy AdjustmentsOne key take away from today’s report is the Fed’s asymmetric policy decisions. At the first sign of trouble, the Fed is cutting rates by a half-point.When inflation was soaring the Fed kept QE going on schedule to the bitter end and started hiking in baby steps with inflation soaring.This is how and why the Fed fuels asset bubbles of increasing amplitude over time.Spotlight JobsAugust 22: A Breakdown, by Sector, of the Negative 818,000 BLS Job RevisionsSeptember 6: Payroll Report: Manufacturing Sheds 24,000 Jobs, Government Adds 24,000, Big Negative RevisionsSeptember 7: BLS Negative Job Revisions 15 of Last 21 MonthsSeptember 9: Fed Beige Book Conditions Are Worse Now Than the Start of the Great RecessionIn July, I thought the Fed would cut rates 50 basis points today. I want to repeat that was an expectation of what the Fed would do, not what I thought was the proper economic policy.More By This Author:Stronger Than Expected Housing Report In August, Especially Completions It’s Rate Cut Wednesday, This Is What The Fed Will Say Today Industrial Production Rises Strongly From Steep Negative Revisions
