Lingering concerns about long-term unemployment notwithstanding, inflation has taken center stage. The most recent jobs report, while weak, does little to diminish the Fed's view that rates need to move higher.
Former Fed insider Daielle DiMartino Booth knows the Fed will be out of bullets at the next recession. Even so, its Chairman Jay Powell is now desperately trying to create as much runway as possible.
The US Department of Labor released poor data for jobless claims this week. The number of initial claims for unemployment insurance jumped to 242,000. This is the last piece of data to come out before the jobs report.
There are growing signs that a trade war is possible, and that the multilateral trading system may not be able to prevent it. This column asks what would happen with tariffs around the world if countries were to move from cooperative tariff…