Editorial Board

The Jobs Report the Fed Should Be Waiting For

It's going to take a while for the job market to recover from the recession.

We're not done yet.

Photographer: Joe Raedle/Getty Images

With a pretty solid recovery now under way and the unemployment rate way down from its recession-era peak, the U.S. Federal Reserve is wondering when to start raising interest rates. It has said it will be "patient" -- which investors have taken to mean "not before the middle of this year." That might not be patient enough.

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