Julia Coronado
👤 SpeakerAppearances Over Time
Podcast Appearances
And you shouldn't, because if this continues, then the Fed will cut and they will cut in December.
It's poised to cut in December for exactly that reason.
When we saw the September labor report, we said going in, the most important number is the unemployment rates.
Forget payrolls.
They're overstated.
They haven't been benchmarked.
Blah, blah, blah.
Seasonal noise.
Look at the unemployment rate.
And it went up and nobody expected it to go up.
So that was the news.
The news was the labor market is weakening.
The Fed is a go.
And that looks to be where they've landed.
And yet I think, Tom, that the trick is the committee.
is in such a hawkish mood because the GDP tracking is so strong and the economy seems basically OK, the stock market's at the highs.
So what's the big deal?
Meanwhile, I've got an inflation problem.
But if this labor market problem keeps creeping, creeping in and those cracks keep deepening, of course, the Fed is going to pay attention to that.
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