By Evelina M. Tainer, Chief Economist, Econoday
3/9/01

It was another disappointing Friday for the financial markets. It turns out that the employment situation for Friday was not as anemic as expected. This dashed the hopes of market players anticipating aggressive Fed easing not only at the FOMC meeting on March 20, but also further out in the spring and summer. While the economy may not be falling apart rapidly, don't think that it is expanding at a robust pace either. The employment situation was lackluster and manufacturing activity is performing at recessionary levels.