400% Increase In Job Cuts In November

by confoundedinterest17

As soon as Bidenflation started soaring with his war on fossil fuels and manic Federal spending, we saw The Federal Reserve starting to remove the excessive monetary stimulus, but Congress didn’t cancel its spending spree.

We ADP jobs report yesterday was ugly (+127k jobs added after +239k jobs added in October). Now we have the Challenger, Gray and Christmas jobs report for Novemeber … and it is terrible. An increase of 416.5% in job cuts.

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Today, the US Personal Consumption Expenditures data was released. It shows that the CORE PCE YoY fell to a still high 5%.

If The Fed actually followed any rules other than CNTRL PRINT, we can see that with Core PCE YoY of 5% (or 4.98% to be exact), the Taylor Rule estimate for where The Fed Funds Target rate should be is … 9.78%

Foul Powell on the prowl hinted on The Fed slowing rate increases.

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