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Unemployment has been grinding from 3.4% to 4.2% over two years. Not a spike, a slow drift and those don't reverse on their own.
The Fed is stuck between sticky inflation and a softening labor market.
When Warsh takes over, he's likely cutting. But doing it before inflation is buried is a dangerous game.
What do you think?
Choose between having a job or 40 dollar eggs 😄