Getting Serious on US Jobs

Two key US policy developments this week:
Fiscal Policy: President Obama’s proposed $447bn package of tax cuts and spending measures aimed at boosting growth and jobs. More details about costs of the American Jobs Bill and about debt stabilisation will be announced on 19 Sep….
Reuters factbox
Instant market views I
Instant market views II
Monetary Policy: US legislation requires the Fed to aim for both full employment and stable prices. Usually – even though there is no explicit CPI inflation target as in Europe – ensuring low, steady inflation has taken precedence. But as the US economy stares over the double-dip abyss there are signs that conventional central banking views may be changing….
The Fed’s Dual Mandate Responsibilities and Challenges Facing U.S. Monetary Policy, FRB Chicago speech by President/CEO Charlie Evans in London, 7 Sep 2011
Should the Fed target unemployment?, The Economist, 8 Sep 2011