Holy Sh*t! Jobs Have Completely Stopped Hiring

Jay Powell again reiterated that he believes the economy is “on solid footing.“ The most recent data on the labor market shows he’s either wrong or lying. There is no equivocating these latest estimates in which hiring has collapsed. As if that wasn’t enough, it was backed up by other sources. All of it pointing to summertime being the time for recession. It’s all about hiring, and that has all but disappeared. Eurodollar University’s Money & Macro Analysis Bloomberg Powell Says Fed Not in a Hurry, Will Lower Rates ‘Over Time’ Bloomberg Fed’s Goolsbee Sees ‘Many More’ Rate Cuts Over the Next Year CNN A sign of strength in the labor market: Job openings increased in August