And initial unemployment claims rose by 9,000 to 228,000 last week, while continuing claims rose slightly.
We also got inflation numbers today, 8.2% year over year, means that the Fed's Kamikaze actions toward the US economy will continue through at least the next few meetings, despite the fact that mortgage rates are now at a 20 year high, and property sales are freezing up as a result.
Inflation is coming from a number of factors, supply chain issues, increasing energy prices, and monopoly rents extracted by mega-corporations come to mind, and crushing the economy, as the Fed intends are not going to fix any of these things.
The issues here are social and political, not monetary, but all the Federal Reserve has is a hammer, so ………
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