In the course of just a couple of days, things have gotten a lot more complicated for the Federal Reserve. Late last week, when the July jobs numbers came in right around market expectations, expectations surged that the U.S. central bank in September would enact its first rate hike in more than nine years. Now, things have changed. Darkening global deflation clouds have begun to form while China has moved to devalue its currency just as the Fed apparently was about to strengthen the U.S. dollar. Meanwhile, flatlining productivity at home has caused economists to ruminate over growth that may not be anywhere near the ... (full story)