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ADP, WSJ Deliver One-Two Punch To ‘Aggressive’ Fed Cut Narrative
Jim Bullard wants a 50bp rate cut at the September FOMC, but he's not getting any help from ADP or from the Wall Street Journal, whose Nick Timiraos is out Thursday with another one of his farcical "according to interviews with officials and their public speeches" trial balloon articles.
ADP printed 195k, far better than consensus (148k), and above even the most optimistic estimate from nearly three-dozen economists. July's number was revised lower by 14k.
"In August we saw a rebound in privat
Good to see the WSJ, owned by FOX owner Rupert Murdoch, finally speaking out against the Trump ‘madness’ if only just a little bit.