Get the best daily market and macroeconomic commentary anywhere for less than $7 per month.
Already have an account? log in
Balloon Animals
The good vibes on Wall Street engendered by last week's "Goldilocks" jobs report are set for a gut check.
Inflation figures for December, due Thursday, are generally seen as the deciding factor for the Fed when it comes to the size of the next rate hike. Although the cooler-than-expected read on average hourly earnings that accompanied December payrolls was welcome news (particularly given the downward revision to the prior month's reading), it'd be overshadowed by evidence that consumer price
What Fed presidents said at Friday’s get-together at the National Association of Business Economics in New Orleans sounds like they aren’t thinking about backing off on rate increases.
At the same conference, Larry Summers also spoke. He does NOT think the economy will return to the low-interest-rate environment, saying “my guess is we will not return to the era of secular stagnation” once inflation has been tamed.
Here’s a reference to a Bloomberg vid interview he had with Bloomberg.
https://www.bloomberg.com/news/videos/2023-01-06/larry-summers-predicts-tumult-for-markets-in-2023