Summer Jobs
This week won't feel quite as crowded as last, but the data docket is nevertheless formidable and features all the usual first-of-the-month, top-tier releases from the US, with NFP headlining.
Markets expect to hear the US economy added 200,000 jobs in July, continuing a long-running streak of solid gains and underscoring the "resilient labor market" narrative for the nth time.
During remarks to reporters following the July FOMC meeting, Jerome Powell was clear: The Fed's pleased with the econ
Last week, my dad and I did our part to help the US economy from the “resumption of home price gains”.
I sold the home he and my mother had lived in for 58 years at 8.2% over asking- which was already a high amount (I am confident saying that because I am a Zillow junkie!).
In exchange for me taking care of the sale of the home and actually closing on the sale (he doesn’t count any chickens until they hatch), he treated me to a new dress and he took me out to lunch!
So fun 🙂
For some reason this post got me thinking about the asymptotic curve that might well describe the cost to our economy of the fight against inflation. As the song said, “… some gotta win, some gotta lose …” It cost $X (an amount I don’t know) to get the first 1% reduction in inflation, probably more for the next reduction. I wonder how expensive the reductions from 3% to 2.5%, and finally from 2.5% to 2.0% will be, assuming we could even get there. I’ll wager that every 50 bp drop in the rate will cost more than the last. So who’s gotta win and who’s gotta lose and how much?