Bit of a mixed bag for the Fed: Much stronger job growth than expected and quick wage growth, which could keep them inflation wary. But unemployment ticked up (just a little, to 4%) and the participation rate came down. www.bls.gov/news.release/empsit.nr0.htm

The U.S. labor market is returning to normal: Still strong, but less tight. The big question is the destination. Does it rest at that new equilibrium? Reaccelerate? Or does it keep weakening, merely passing through "normal" on the way to recession? www.wsj.com/economy/recession-inflation-fed-jobs-report-b9d1fb28

📉Spoke to @chrisjcondon « @EYnews Chief Economist Gregory Daco says the Fed & financial markets would benefit from a forward-looking strategy for quelling #inflation, rather than reacting to each backward-looking data point » www.bloomberg.com/news/articles/2024-06-07/jobs-surge-to-reignite-fed-debate-over-how-restrictive-rates-are

From the @WSJ article, "Americans Really, Really Hate #Inflation—and That’s a Big Problem for the #Fed: The Fed for years has targeted 2% inflation. Some economists think 4% would give the Fed more room to get out of downturns." #economy #markets #federalreserve #econtwitter pic.twitter.com/his62jzVRI