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  • The Market Appears to Shrug Off the Fed's Warning

    From marctomarket.com

    The US dollar is consolidating in a mixed fashion today. The FOMC minutes drew much attention but failed, at least initially, to spur a significant shift in expectations. The pricing in the Fed funds futures strip is still consistent with a cut later this year, which the minutes were clear, no officials anticipate. Today's US ADP jobs estimate, and November trade balance are being overshadowed by tomorrow's nonfarm payroll figures. The Fed's Harker, Bostic, and Bullard speak today. They should be expected to stay on message, which is leaning against any premature easing of financial conditions. Meanwhile, strong ... (full story)

Price hikes still have a ways to go working their way through economy. Means Fed is going to continue on its interest rate outlook. Higher for longer then market expects.

Business adjusting to input rises, expect sluggishness in Jobs market as consequence in 2023. Maintaining control over margins and operating costs makes hiring play second fiddle. Sluggishness in job outlook will become a political problem for current administration this year.
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