Piggybacking on Laura Clawson’s post, here’s the Washington Post:
The U.S. economy churned out a blockbuster 336,000 jobs in September, smashing economists’ expectations and heightening the risk that policymakers will have to push even harder to slow down the economy.
Why, exactly, will policymakers have to slow down the economy? Isn’t a slow economy a bad thing? Isn’t people getting jobs a good thing? And yet, here, in the opening paragraph, it’s the huge number of people getting jobs that’s taken for granted as being bad.
Meanwhile, this seems significant:
The data released Friday by the Bureau of Labor Statistics offered yet another snapshot of the job market’s remarkable strength, with the unemployment rate holding at 3.8 percent and wage growth outpacing inflation in a boost to workers.
And the very next sentence:
But it was also the latest example of an economy that simply refuses to slow down, despite the Federal Reserve’s aggressive attempts to get prices and hiring closer to normal levels.
An economy refusing to slow down is bad? Normal levels are preferable to a booming jobs market and wage growth that’s outpacing inflation?
The economy’s defiance has worked out for now, with a recession nowhere in sight. But that could change if the Fed is forced to keep interest rates high for an extended period.
That damn defiance of the economy to keep creating jobs! That damn recession for which we’ve been waiting that just won’t show up! Guess the Fed will have to force the issue!
Among the many crises Biden inherited was an economic meltdown, and he’s turned it around with record job growth. Which the media twist themselves into pretzels to spin as bad. And then they pretend to ask why Biden’s approval ratings are so low.