Tug Of War.
Wall Street is suddenly staring at two existential questions that it never thought it would have to face; about the independence of the Federal Reserve and about the credibility of future economic data coming out of the 141 year-old Bureau of Labor Statistics (BLS) as both historically autonomous agencies face upcoming politicization with Trump set to insert his own hand-picked minions into highly influential positions (see SPECIAL NOTE below).
While these are very legitimate longer term anxieties, the short term effect was a renewed conviction that Fed interest rate cuts will resume in…
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