Strong Jobs Number Turns Up Hawkish Pressure, Biden’s Fed Nominees Grilled, Fed/MIT Report On Digital Currency

Retail sentiment is so bad that it is good and the jobs number this morning was so good that they’re bad. This is of course because one of the Fed’s main metrics guiding tightening is employment and the bumper report makes it harder for it to stall any longer. Everyone knows which way the inflation numbers are pointing, but until “full-employment,” which is a somewhat ambiguous term, is reached they had a little more maneuvering. The report definitely added credibility to the sentiment t

Retail sentiment is so bad that it is good and the jobs number this morning was so good that they’re bad. This is of course because one of the Fed’s main metrics guiding tightening is employment and the bumper report makes it harder for it to stall any longer. Everyone knows which way the inflation numbers are pointing, but until “full-employment,” which is a somewhat ambiguous term, is reached they had a little more maneuvering. The report definitely added credibility to the sentiment that the Fed is behind the curve, but only time will provide the ultimate verdict. The next meeting of the FOMC is 3/15-3/16 and all expectations are for lift-off.

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