Devoted to Managers and those that seek to improve their management skills

The U.S. dollar slid to its lowest level against major currencies in 15 years on Friday.

After an announcement by the government that the economy had dropped 4,000 net jobs last month, the first time since August 2003 the job market shrunk, traders got rid of the dollar.

"The jobs data is simply horrific and fans the most pessimistic fears," said Marc Chandler, chief global currency strategist with Brown Brothers Harriman in New York. "The housing market woes will undermine the U.S. consumer, push the U.S. economy into recession and drag down growth in much of the rest of the world."

The problem still facing the FED is if they continue to fight inflation, it would probably pop both bubbles and the boom we've experienced as well. If they inflate, or drop rates for the short term, it would help the stock investors and stock market, but could threaten the housing bubble more. If the FED drops rates or inflates for the long term, they'll weaken the purchasing power of the dollar, which is so low already.

Some analysts have already mentioned the FED cutting rates could weaken the dollar even more. With European Central Bank president Jean-Claude Trichet mentioning inflation remains a key concern, he suggested there may be more rate hikes in the future for the Euro.

While the pressure is growing on Ben Bernanke and the FED to raise rates soon, it's not as simple as announcing it will be done. Some traders are already assuming it's a done deal that a minimum of a half percentage point will be dropped of the interest rate on September 18, the next meeting of the FED.

It is likely that rates may be cut, but whatever steps are taken by the FED, it could put pressure on another area of the economy, like I mentioned above.

I don't go along with the panic put forth by Chandler above. While macroeconomics can impact businesses of course, businesses that are well managed will still survive the pressures upon them. We just need to be on heightened alert and make sure the things we do well continue to be done well.

We need to pay attention to detail as much as we ever have, and in no way start to get sloppy and take our eyes off what has made our companies great. When you look too much at the macro picture, it can become a self-fulfilling prophecy by neglecting the little things that make your company great, and worrying about things you really have no control over.

This is a time to focus on what we can control, not fear what we can't.