INSIGHTS
Wind in the Willows
Jobs Report - Rate Cut Bets Fading
Well Wall Streeters, which is it? Do we want a strong economy, or low rates? The data that the Federal Reserve uses to determine interest rates refuses to relent. That should be great news as it means that despite the most rapid rate cycle in history, the economy remains resilient. Last week, the United States Department of Labor released their latest Non-Farm Payrolls report and like most of them since the depths of the pandemic, the report was above pre-pandemic averages and unemployment continues near historical lows.
Interest Rates And Small Business
It’s easy to underappreciate the effect that increased interest rates really have on the economy. Intuitively, when rates go up, debt gets more expensive.