Surveillance: Subramanian Lifts S&P 500 Target
Bloomberg Surveillance
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The Slowdown in Non-Farm Payrolls
5 trillion fiscal stimulus on the economy and 5 trillion Fed balance sheet expansion, it's not a surprise that when you throw 10 trillion at a roughly $20 trillion economy, drawing that out of the economy is taking time. So let's double barrel it. You've got non-farm payrolls coming down at some point. Your spectacular chart today shows the miss call of recession, doom and gloom, drawing it out,. I'll put it out on Twitter here when I can. Let's dovetail those together. To get to where you think we're going to get, is it just a smooth linear progression or is it going to be either a jump condition or even more brutal discontinuous?
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