WSJ's Timiraos says the "October jobs data give no reason to rethink the Fed’s read on growth and inflation, even if they reflect decisions made months ago."
ORIGINAL · NewsquawkWSJ's Timiraos says the "October jobs data give no reason to rethink the Fed’s read on growth and inflation, even if they reflect decisions made months ago."Read originalHide original
Full Post: October jobs data give no reason to rethink the Fed’s read on growth and inflation, even if they reflect decisions made months ago. Will the AI selloff give a reason to rethink what Fed policy—the "new monetary medicine"—is doing to financial conditions? That’s the tension heading into December. Warsh says he’d rather read forward-looking markets than lagging data. Which wins?
Timiraos saw no reason to revise the Fed’s growth and inflation assessment based on October jobs data, while flagging uncertainty over financial conditions and forward-looking markets.
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Full Post: October jobs data give no reason to rethink the Fed’s read on growth and inflation, even if they reflect decisions made months ago. Will the AI selloff give a reason to rethink what Fed policy—the "new monetary medicine"—is doing to financial conditions? That’s the tension heading into December. Warsh says he’d rather read forward-looking markets than lagging data. Which wins?
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