The December jobs report is out and its a doozy! 312k jobs added!
Liquidity moves markets!Follow the money. Find the profits!
Average hourly earnings YoY rose 3.2%, still lower than the local peak during The Great Recession.
Fed Chair Jerome Powell (or Pow-Wow)
said he won’t resign if asked (z-z-z-z) and will act rapidly if needed.
(Bloomberg) — Federal Reserve Chairman Jerome Powell said the central bank can be patient as it assesses risks to a U.S. economy and will adjust policy quickly if needed, but made clear he would not resign if President Donald Trump asked him to step aside.
“With the muted inflation readings that we’ve seen, we will be patient as we watch to see how the economy evolves,” Powell said Friday on a panel with his predecessors Janet Yellen and Ben Bernanke at the American Economic Association’s annual meeting in Atlanta.
And with the jobs report (and Powell/Yellen/Bernanke blatherings), the 10 year Treasury yield rose over 10 basis points.
And The Dow is up over 700 points.
Down 660 yesterday. up 700 points today. Can you spell FRAILTY?
Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.