For now, our boy Jerry is having it both ways. He has driven the fed funds rate dramatically higher over the past two years but, on the surface, the U.S. economy has seemed to continue growing. But now inflation is returning and Jerry has said that any weakness in the labor market will bring a rate cut, inflation be damned. So what happens in the months ahead is going to present Jerry with quite the conundrum.
That's a topic for another day, I suppose, and all eyes should shift to the labor market and every report going forward that portends to reveal its status. BLSBSs, JOLTSs,...
