We are adjusting our call. This was a strong jobs report, and it makes clear that there’s more work to be done. However, the tightening in financial conditions we’ve seen—before and after this report—constitutes a lot of new restraint. The market has raised the probability that there will be another rate hike to about 50%, and it’s raised the […]
Category: Data Release
Yesterday BEA released revised quarterly NIPA data through Q2, with the 2023 comprehensive update of the national economic accounts affecting the data through Q1. Today BEA released the monthly data underlying the quarterly data released yesterday (i.e. the monthly data through June corresponding to the quarterly data through Q2) as well as the data for […]