No wonder Consumer Confidence stinks...we are 5 million jobs short of the pre-Covid high in total US employment.
The prevailing Narrative is that the economy is on fire: earnings are great, help-wanted signs are everywhere and inflation is a problem. However, we don't see that heat in the important payrolls and Consumer Confidence data. Does anyone think this improves when the Fed raises rates?
Robert Lloyd, CFA®
Chief Investment Officer
Lloyds Intrepid Wealth Management
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