And the Economy
So, the Thursday release of unemployment claims showed a slight increase, and the Friday release of overall jobs numbers showed that the US 372,000 to the non-farm payroll last month,with the unemployment rate remaining at 3.6%.
Wage increases are moderating, indicating that the probability of a “Wage Price Spiral” are diminishing, if they ever existed at all, and GDP fell for the 2nd straight quarter.
Payrolls remain below what they were before the start of the pandemic.
We are not seeing much effect from the Federal Reserve’s interest rate hikes.
I think that it’s fairly clear that we are heading toward a recession, though I do not know whether this will be this September, or some time next year.
My assessment of the economy at this point can be summarized as, “¯\_(ツ)_/¯”.