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Perhaps the Key to Economic Happiness Is Low Expectations: Weekly Economic & Financial Commentary
From wellsfargo.bluematrix.com
On the surface of things, the June jobs report came in better than expectations, though the underlying details are somewhat less encouraging. The economy added another 147K jobs, roughly in line with the three-month moving average of 150K, and the jobless rate fell to 4.1%. This apparent affirmation of sustained labor market resilience justifies Chair Powell's message of not needing to rush a rate cut at the upcoming July meeting. Going into the jobs report, the futures market put the odds for a July cut at about 20%; those bets dried up after the hot number print. Despite the headline beat and the rush to remove ... (full story)
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