
‘We Aren’t There Yet’
Some economists were surprised Thursday by the scope of the decline in US jobless claims, which fell
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Personally I think a pretty big slowdown is coming for any number of reasons. Right now the Fed is in show me mode, and to be perfectly fair, the economy is holding up. If the cpi continues to make progress, my view is that it would not kill the Fed to pause. But if not, the Fed could be justified in hiking again. I don’t lean that way however.