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HOLY SH*T! You Won’t Believe What the Fed Just Admitted
So, Jay Powell just casually strolled to the podium at his press conference last week and announced the Fed now believes the US has been losing jobs at a rate of 20,000 per month. From strong and resilient to solid to, ah, so what we’re now shedding jobs by the tens of thousands per month. Do you see it yet? The Treasury curve does, which is why it is moving into its final form in this long un-inversion process, with the big moves taking shape and doing most of the reshaping right in Chair Powell’s conference room.
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