Jobs and Money: If you think we’re in a recession, you may have to keep looking for the proof. Dr. Brian Wesbury says there’s “No Sign of a recession in the labor market. Just the opposite: the job market was very strong in July”….bringing the unemployment rate down to 3.5 % from 3.6%. Check out his executive summary of the July Employment Report. In a separate article on monetary policy, Dr. Wesbury opines that Fed Chairman “Jerome Powell does not think the US is in recession, and neither do we.” In particular, he thinks that confusion about the respective roles of interest rates and money supply growth in creating inflation are instead creating a “Monetary Muddle.”
A Bridge Too Far? The Fed raised its Fed Funds rate by 75 bps on July 27 as they had promised. Did they overreact.? ITR Economics Brian Beaulieu has a few thoughts: Has the Federal Reserve Gone Too Far?
