"The increase in January's PPI—which rose far more than the estimates, erasing last month's decline—moderates expectations for disinflation over the year ahead."
If the Fed had to set its inflation target today, it would choose 3% or 4%, rather than 2%, but "it is very difficult to change a target when you have missed it for so long. ... The minute you do that, your credibility is hit even harder."
In light of the Labor Department's proposed rule on employee classification, employers need to analyze whether workers are economically dependent on the employer for work.
Forty-nine GOP senators, as well as Sen. Joe Manchin, plan to reintroduce a resolution attempting to block enforcement of the DOL's new ESG regulation for retirement plans, which took effect Monday.
Some analysts attribute the shockingly strong jobs numbers to government adjustments of the raw data. Others believe the labor market is actually still shockingly strong.
Large Wall Street dealers already stand to lose $5 million to $10 million if the spread between overnight and term SOFR moves against them by just 1 basis point, and their exposure grows with every new transaction.
