In the latest podcast, U.S. Rates Strategist John Herrmann reviews the most recent monthly employment report, both in terms of the remarkably strong and broad-based growth in nonfarm payrolls, alongside an extremely rapid descent in the number of U3 unemployed individuals.
John contrasts and evaluates the current jobs performance over the past twelve months to that of the Bernanke cycle over its initial five years and five months (from late 2009 through early 2015). The current cycle is head and shoulders stronger than the Bernanke cycle, and John asks the question, why can Chair Powell not see the glaring difference?
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