http://www.mortgagenewsdaily.com/6262008_Jobless_Claims.aspEconomists say the higher-than-expected initial jobless claims reading for the week ending June 21 and four-year high reached in continuing claims illustrates the continued deterioration of the U.S. labour market. "Three straight weeks of claims in theenCommunityServer 2008 SP2 (Build: 31106.96)http://www.mortgagenewsdaily.com/6262008_Jobless_Claims.asp#8358Thu, 26 Jun 2008 11:00:00 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:8358Cliff PapeThis makes sense and it appears that the fed will not be able to act against inflation. However, the fed seems to have shifted its policy view more to long run goals rather than short run. Therefore, the fed can afford to sit back and watch.<div style="clear:both;"></div><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=8358" width="1" height="1">