It's Thursday, so Some Economic Stats

The Fed is Ignoring Trends, Inflation is Falling a Lot

This will not include bank failure updates, because the deep dive (plus memes)will take a while.

First, I missed last week, when initial unemployment claims roes from 190,000 to 211,000, significant, but not alarming, and continuing claims rose from 1.03 million to 1.72 million, which is kind of alarming.

Also Non-Farm Payrolls rose a healthy 311,000 last week, which is good news, unless, of course, you are the Federal Reserve, who will doubtless see this as another excuse to raise rates

This week's report has initial claims falling by 20,000 to 192,000, with continuing claims falling by 29,000 to 1.68 million.

So clearly, the Federal Reserve must raise rates, because year over year inflation fell from 6.4% to 6.0% last month, so it's not falling quickly enough.

Of course, if you look at the annualized Consumer Price Index 3 month rolling averaged, particularly the core CPI, indicate that inflation is on the way down.

The goal of the Federal Reserve is more interested suppressing worker wages and worker power than it is in sensibly address addressing inflation.