In a third sign the economy is slowing this week, the jobs report released today showed hiring is slowing. Jobs added missed economist expectations by almost 10,000. Also troubling, wages actually fell.
This is the third bad economic report this week after data showed both the manufacturing and services sectors of the economy are slowing. Rising inequality and an increasingly stagnant economy are further proof of the failure of Trump's protectionist trade policy....and the inability of GOP tax cuts to stimulate the economy.
Stocks rallied despite recession concerns as traders believe the Fed will now have no choice but to cut interest rates again to slow the bleeding and lower wages can mean better profits for companies.