Here's an excerpt from an article in The Economist discussing the continuing recovery in the US and yesterday's solid jobs report,
"And while momentum seems to be building, there is no shortage of threats around the world. Europe ever looms, and rising oil prices have households nervous. The biggest danger may be policymaker complacency, however. The Federal Reserve took steady strides toward more economic support in the last few months of 2011 but seems now to be backing away from hints of further accommodation. That would be premature. It was only last spring that the economy last enjoyed a three-month run of 200,000+ employment growth—a streak that quickly fizzled as dear oil, European crisis, Japanese catastrophe, Congressional bickering, and an idle Fed nearly tipped the economy back into recession.
"Confidence in the American economy looks as good as it has in years, and is especially striking by comparison with the outlook across most of the world. If the recovery has taught us anything, however, it is to take nothing for granted."