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kscarbel2

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A massive loss of face.....heads are going to roll.

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“We still have very sluggish wage growth despite the fact that for a number of months, we have had an unemployment rate below 4%. Ordinarily, we would have wage and salary income growth well above 5%, 6%. Instead, according to U.S. government numbers, it’s only at 3.5%.”

“Why are we not getting a livelier pace of wage and salary income growth, livelier growth for the average hourly wages as well as consumer spending? What’s going to happen when the unemployment rate inevitably rises? A very low unemployment rate raises the risk of a higher unemployment rate 12 months from now… So that tells me that investors have to cast a wary eye on any forecast of continued growth for the U.S. economy.”

“You’re definitely going to see the market tank in the event you don’t get a rate cut at the end of July without any strong reason to rule against a rate cut. Keep an eye on what’s going on with business sales — what they sell to consumers, capital goods and exports. If that doesn’t improve significantly fairly soon, we not only get a rate cut in July but we also get one at the September 18th meeting of the FOMC.”

Moody's Capital Markets Chief Economist John Lonski

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Stocks are hitting record highs.

Layoffs and unemployment are at 50-year lows.

And yet, the Federal Reserve is prepared to cut interest rates soon because it’s worried about the economy.

Just seven months ago,remember, the Fed was predicting it would raise rates several times this year. Now the question is just how many times it will cut rates. And whether it will do any good at all.

It’s a mad, mad, mad, mad world.

https://www.marketwatch.com/story/an-economy-gone-mad-the-fed-is-going-to-cut-interest-rates-despite-record-stock-prices-low-unemployment-2019-07-11?mod=mw_theo_homepage

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