More Americans than expected filed new claims for jobless aid last week and consumer prices were slightly higher in January, supporting the argument for the Federal Reserve to maintain its very accommodative monetary policy stance.
Initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 362,000, the Labor Department said on Thursday.
It said in a second report that consumer prices were flat for a second consecutive month in January though they rose 0.3 percent excluding food and energy.
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It seems such a simple decision. Detroit is in a financial freefall. A review panel says there’s no credible plan for reversing course, and suggests an emergency manager is the best hope for saving the city. Nearly everyone who’s had a look at the balance sheet agrees.
So what is Gov. Rick Snyder waiting for?
Why allow the resentment to fester while he ponders a decision that should be a foregone conclusion?
Perhaps because it’s not.
Something needs to be done with the cites finances, and sooner is better than later.