Good News for the Fed as Job Market Cools Without Delivering Pain

This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, economy reporter Reade Pickert reviews today’s jobs data and what it means for the Fed. Sign up here and follow us at @bpolitics. Email our editors here.

The US labor market is clearly cooling down. Normally that means job cuts and higher unemployment, but so far, that hasn’t been the case.