Exactly! "…his is completely unsustainable and points to a much weaker labor market than the headlines make it appear."
The soon-to-be unemployed government whisperers have been using government hiring to demonstrate growth, akin to how bloodletting was once believed to heal…
— John Welty (@apostlejohn) January 10, 2025
BREAKING: Bank of America revises forecast and no longer expects any Fed interest rate cuts in 2025.
"Given a resilient labor market, we now think the Fed cutting cycle is over," the bank said. pic.twitter.com/k7hVG3twwX
— The Kobeissi Letter (@KobeissiLetter) January 10, 2025
Goldman: Now expecting two rate cuts this year, in June and Dec, instead of three (loses the March cut)
JP Morgan: Also removes a March cut. June + Sept.
BofA: The cutting cycle is at an end. An extended hold is most likely. The next move is more likely to be up than down.
— Nick Timiraos (@NickTimiraos) January 10, 2025