Powell Speaks Friday

The majority of Fed officials are reluctant to cut rates based on the FOMC Minutes from last month.

PRE-OPEN MARKET COMMENTS THURSDAY - Fed officials are concerned about job growth and inflation and they are weighing which of the two is more important. Stagflation is not good for the market so anyway you slice it, conditions are deteriorating. This morning initial jobless claims came in at 235K and that is an increase from 226K last week. This number has been artificially low and it has stayed that way the last few months when we know there have been job losses.

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