Fed Should Have Raised In Early 2014 Political Bias is Coming Back to Bite?

Fed Political Bias? Friday’s job report was a stinker.  The +38K jobs was much lower than the 160K the market expected and the lowest month-over-month figure we’ve seen since September 2010. Although next month’s labor market report is likely to bounce back up, the underlying drift in hiring is slowing, as evidenced by the recent deceleration in month-over-month job growth or the years-long deceleration in year-over-year growth. Wouldn’t it be nice if the Fed had some “non-goofy” firepower left to address weak economic conditions? [drizzle] What is meant by “non-goofy” responses.  Well, traditional tools at the Fed’s disposal include raising…