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No Soft Landing (EP.282)
Animal Spirits Podcast
Is the Labor Market a Soft Landing?
Goldman Sachs put on a note. They actually see a very plausible path to avoid a US recession. I think if you bring the number of job openings down and the number of quits down, that's probably our only hope here. The strong labor market buys us some time and the Fed finally just decides to pause and see what happens. It didn't seem like Powell was even considering that. Maybe he can't say he's considering that yet, but it seemed to me like they don't even want to try for a soft landing. They want a hard landing now to get this over with.
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