ACTV - Oil Jobs And Money

2024-04-06 01:35:00 ET

Summary

• As diligently as everyone is looking for signs of a consumer slowdown, the numbers keep telling us that household spending continues apace. The labor market is not showing signs of slowing.
• Friday’s report from the Bureau of Labor Statistics showed payroll gains of 303,000 in March, significantly higher than the 205,000 predicted by economists.
• There is another curve ball messing up the rate cut outlook, and that is the recent surge in oil prices.

Let’s just say that it has not been a great time in recent weeks for the Six Cut Crowd. You remember these folks, the ones who took the Fed’s three rate cut scenario at last December’s FOMC meeting and promptly doubled that scenario....

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