Five Concerns Should Temper Employment Enthusiasm
Higher inflation and slower employment data are putting all-important consumption growth at risk.
Much of what we could talk about in terms of market action this week would likely center on what President Trump said (or tweeted) this week, so we will pass on our market commentary.
There was a ton of economic data this week, all a bit confusing and contradictory. Also, a lot of the data was open to an unusually wide range of interpretations, especially the U.S. employment report. Most of this report will focus on that data, which is responsible for our rather dour outlook for 2017. We may just need the potential tax cuts and stimulus to keep the economy going at its current pace instead of opening a new wave of higher growth.