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Gilt Trip with Cathie Wood
FYI - For Your Innovation
Is the Fed Data-Driven?
Even though the headline indicators were flat to down, the PPI core 0.4 and non-farm payroll, which came out today, pretty much in line, 263,000. But there was a drop in the unemployment rate from 3.7% to 3.5%. Now the reason for the drop was the labor force, not employment,. The labor force shrinking, labor force participation ticked down. So on the weak side, again, if the Fed were data-driven, it would be paying attention to employment below 50%.
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