𝐓𝐗𝐌𝐂|Apr 03, 2026 19:52
Fed's own research showing breakeven jobs being ~zero does not mean that weak job growth will stop them being hawkish if necessary. It means the job market is "stable" albeit at a historically low level. They'll be cautious, but it doesn't hamstring them entirely. It also means the unemployment rate becomes significantly more important for signal since NFP is so volatile.(𝐓𝐗𝐌𝐂)
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