The Fed's Narrative on Rates

I saw there's a bit of a nothing number you know not particularly bullish or bearish and certainly so consistent with the idea that the labor market is very tight. So obviously 3.5% unemployment rate and earnings still growing pretty solidly. If you were looking for a slowdown it was probably a little bit of a hint there to give you some encouragement but yeah I didn't think it was a really massively market moving number. The question that I see in the news is if the Fed will change its narrative from whether to raise rates further or maybe it has to be how long do rates need to stay this high.

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