Posted on 12/01/2022 6:11:30 AM PST by Kaiser8408a
As soon as Bidenflation started soaring with his war on fossil fuels and manic Federal spending, we saw The Federal Reserve starting to remove the excessive monetary stimulus, but Congress didn’t cancel its spending spree.
We ADP jobs report yesterday was ugly (+127k jobs added after +239k jobs added in October). Now we have the Challenger, Gray and Christmas jobs report for Novemeber … and it is terrible. An increase of 416.5% in job cuts.
Today, the US Personal Consumption Expenditures data was released. It shows that the CORE PCE YoY fell to a still high 5%.
If The Fed actually followed any rules other than CNTRL PRINT, we can see that with Core PCE YoY of 5% (or 4.98% to be exact), the Taylor Rule estimate for where The Fed Funds Target rate should be is … 9.78%
Foul Powell on the prowl hinted on The Fed slowing rate increases.
(Excerpt) Read more at confoundedinterest.net ...
Let’s Go Brandon! FJB.
That’s an insult to horses!...................
This is doubleplusgood comrade!
I read about a lot of cuts in tech jobs, but around here (Indiana) many low end jobs (15-20/hr) go begging. Help wanted signs still up everywhere.
Is it a job requirement that headline writers have to never read what they wrote?
I would have thought that when firings reached 100%, those fired would have stopped coming to work to get fired three more times.
For Biden it is the greatest economy ever, he is collecting his 10% on all the money and weapons given to Ukraine...
GOPe will be happy when unemployment is around 10% and interests rate are ove 10%. Then they will be good.
Taking a job that pays $15-$20/hr is commiting economic suicide.
Have to remember Biden and Fetterman have the same logic level
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