Long Term Unemployment = Jay Powell’s Unexpected Weakening = Recessions
It was in his May FOMC presser that he said that an ‘unexpected weakening’ of the labour market could cause the Fed to change course.
Two months on he’s got one.
Long term unemployment, defined by being… pic.twitter.com/4TgxSrznMP
— PPG (@PPGMacro) July 10, 2024
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