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So the government announced that new claims for jobless benefits are at a historic six-year low, levels not seen since before the Great Recession.
Ironically, the stock market plunged which would seem to be a perverse reaction. But stocks had been doing relatively well to begin with because of the Fed Reserve pumping $85 billion a month into the US economy in hopes to stimulate job growth. Now that the growth seems to be taking place, that Fed money might begin to scale back, worrying investors.
There's also weak sales reports from Walmart, Lowes, and Macy's, while Cisco has announced its plans to cut 4,000 jobs due to the concerns about the state of the global economy. This news will also negatively impact stocks.
Inflation seems to be rising as well.
Any thoughts or insights from our RVF econ guys?
So the government announced that new claims for jobless benefits are at a historic six-year low, levels not seen since before the Great Recession.
Ironically, the stock market plunged which would seem to be a perverse reaction. But stocks had been doing relatively well to begin with because of the Fed Reserve pumping $85 billion a month into the US economy in hopes to stimulate job growth. Now that the growth seems to be taking place, that Fed money might begin to scale back, worrying investors.
There's also weak sales reports from Walmart, Lowes, and Macy's, while Cisco has announced its plans to cut 4,000 jobs due to the concerns about the state of the global economy. This news will also negatively impact stocks.
Inflation seems to be rising as well.
Any thoughts or insights from our RVF econ guys?