Marketplace Off-price retailers shine as consumer moods sour
24 snips
Nov 21, 2025 
In this discussion, Greg Ip, the Economics columnist from The Wall Street Journal, dives into the recent successes of off-price retailers like TJX, who thrive as shoppers seek bargains amidst economic stress. He explores sluggish job growth and implications for the Federal Reserve, highlighting how political sentiment influences consumer confidence. Additionally, Greg addresses challenges in supply chains and the impact of USDA funding cuts on small farmers, showcasing the interconnectedness of today's economic landscape.
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Labor Market Shows Slow, Stable Hiring
- September jobs data shows slow hiring with average monthly gains near 60,000 when two months are averaged.
- That pattern suggests a 'no hire, no fire' economy rather than a recessionary wave of layoffs.
Missing CPI Leaves Fed In The Dark
- The Bureau of Labor Statistics canceled the October CPI release, leaving a gap in inflation data before the Fed's December meeting.
- Missing CPI data complicates policymakers' ability to balance stubborn inflation against a cooling job market.
Fed Split Reflects Data And Politics
- Fed officials are split because job and inflation data push in opposite directions, creating more potential dissent at the December meeting.
- Political appointments risk making policy preferences align with partisan lines rather than pure data interpretation.