The day after The Fed slashes rates by a crisis-like 50bps, jobless claims data plunges to multi-month lows signaling an economy that is anything but 'soft landing' let alone landing at all...

Adjusted initial claims tumbled from 231k to 219k (lowest since May) while unadjusted claims continued to tumble to 12-month lows...

Continuing claims also continued its (economically positive) downtrend, sliding from 1.843mm to 1.829mm Americans...

While the official unemployment rate dipped modestly from three-year highs, jobless claims have crashed to near record lows.

Does that really look like an economy that needs a 50bps rate-cut?

Does that really look like an economy that needs a 50bps rate-cut?
{ai:summary}The Federal Reserve's recent 50bps rate cut follows unexpectedly low jobless claims, contradicting the notion of an economic 'soft landing.' Initial claims fell to their lowest since May, while continuing claims also decreased. Concerns arise about the rate cut's justification amid these positive employment indicators, prompting skepticism over the validity of the job data or the Fed's decision-making. #economy

Plunge In Jobless Claims Exposes Apolitical Fed-Cut 'Policy Error' Further

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