A busy day in the US started with weekly jobless claims in-line to somewhat weaker than consensus expectations: Initial claims came at 1.006 million and continuing claims 14.535 mm (Bloomberg charts below). The bottom line: The labor market remains under pressure and faces mounting longer-term risks. The focus now shifts to other (lagging) economic data and, of course, Federal Reserve Chair Jerome Powell's remarks at the Jackson Hole Symposium. Economists will be looking for signs as to what's next for US monetary policy -- particularly with respect to inflation targeting where equity markets are looking for an even more stimulative stance while bond markets are likely to be more nuanced. #economy #markets #jobs #employment #unemployment #monetarypolicy #fed #federalreserve …see more