This week in Bidenomics: No stag, no 'flation, just consternation
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Federal Reserve Chair Jerome Powell dismisses the idea of stagflation in the US economy, citing inflation at 3.5% and unemployment at 3.9%. However, consumer confidence has fallen for three months in a row, and stock market investors are uncertain about the trajectory of inflation. The soft jobs report for April, with 175,000 jobs added (65,000 less than expected), suggests a weakening labor market, which could be good for inflation. If the deflationary trend continues, it may lead to modest Fed rate cuts and bullish stock market conditions. Despite record job growth and a rebound from the COVID pandemic, voters have not given President Biden credit for the economy's positive aspects and have focused on inflation. There are signs that workers are noticing a tightening labor market, which could impact Biden's reelection prospects.
#Bidenomics #Stagflation #Inflation #Unemployment #ConsumerConfidence #StockMarket #JobsReport #FederalReserve #PresidentBiden
https://finance.yahoo.com/news/this-week-in-bidenomics-no-stag-no-flation-just-consternation-192404618.html
Yahoo Finance /
npub1j0e…3yhd
2024-05-03 22:18:08
Author Public Key
npub1j0e6zhr82q4par2f4ecr67zvj0ltv8qgqr8v3llw2ed6qvdrm4fs9s3yhdPublished at
2024-05-03 22:18:08Event JSON
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"content": "This week in Bidenomics: No stag, no 'flation, just consternation\n==========\n\nFederal Reserve Chair Jerome Powell dismisses the idea of stagflation in the US economy, citing inflation at 3.5% and unemployment at 3.9%. However, consumer confidence has fallen for three months in a row, and stock market investors are uncertain about the trajectory of inflation. The soft jobs report for April, with 175,000 jobs added (65,000 less than expected), suggests a weakening labor market, which could be good for inflation. If the deflationary trend continues, it may lead to modest Fed rate cuts and bullish stock market conditions. Despite record job growth and a rebound from the COVID pandemic, voters have not given President Biden credit for the economy's positive aspects and have focused on inflation. There are signs that workers are noticing a tightening labor market, which could impact Biden's reelection prospects.\n\n#Bidenomics #Stagflation #Inflation #Unemployment #ConsumerConfidence #StockMarket #JobsReport #FederalReserve #PresidentBiden\n\nhttps://finance.yahoo.com/news/this-week-in-bidenomics-no-stag-no-flation-just-consternation-192404618.html",
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