Weekly Economic Commentary 2/5/2016

Friday’s jobs report once again highlighted a conundrum that has proven to be one of the most vexing problems facing policy makers. Over the past two years, the economy has generated more than six million jobs, a pace that is healthy by just about any standard. Yet it has done so against the backdrop of lackluster domestic growth that shows few signs of breaking out. If anything, the U.S economy has weakened since the middle of last year and is beset by a tidal wave of external threats, including a weakening global economy, plunging commodity prices, and a strong dollar that undercuts American exports.