Salient to Investors:

Joseph Gagnon at the Peterson Institute for Intl Economics the jobs report was what proponents for QE were almost hoping for and consistent with sticking with QE for the whole year.

Roberto Perli at the Intl Strategy & Investment Group said the job market has far to go before achieving the gains Bernanke says will warrant halting purchases and will want to see confirmations of these numbers in the months ahead.

Chicago Fed President Charles Evans wants to see  monthly job growth of 200,000 over a period of six months.

Kansas City Fed President Esther George is concerned the stimulus will fuel financial instability, and Dallas Fed President Richard Fisher says monetary stimulus won’t help businesses hire.

St. Louis Fed President James Bullard said the Fed will continue QE for a while because inflation expectations are contained.

Diane Swonk at Mesirow Financial said the share of working-age people in the labor force –  down to 63.5 percent last month, matching the lowest since September 1981 – highlights weakness in the job-market recovery. Swonk said unemployment is not declining for the right reasons, and not enough to remove QE.

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