FEX - Questions About The 'Stellar' June Jobs Report (Which Also Confirm The Fed's Concerns)
On Wednesday, Jerome Powell testified before Congress that the U.S. economy is "suffering" from a bout of uncertainty caused by trade tensions and slow global growth. To wit:
"Since [the Fed meeting in mid-June], based on incoming data and other developments, it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook."
That outlook, however, would seem to be askew of the recent employment report for June from the Bureau of Labor Statistics last week. That report showed an increase in employment