Surveillance: Fitch Cut, Trump Indictment
Bloomberg Surveillance
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The Low Unemployment Is Before Recession
The key metric we're looking at is the savings rate. It's running around 4.5%. Another prism into this is the quote unquote excess savings. And by our reckoning, there's still some. I think that we need to see some easing in services, spending, or rising the overall savings rate. But it's more likely to be an early 2024 story.
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