Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

FIRE POWELL!

[garyreins]

"Dear Fed: The bell is ringing. The July U.S. jobs report clearly shifted the market’s perception of economic risk going forward — but foreshadowing was evident in the June jobs report, which exhibited large negative revisions and narrowly concentrated job gains in healthcare and government.

U.S. Federal Reserve Chairman Jerome Powell’s recent assertion that the labor market is similar to that which existed prepandemic, while loosely accurate on some measures, misses one crucial point — that is, the current momentum is driving the U.S. economy toward weakness rather than strength. The U.S. stock market is selling off sharply because uncertainty is high, and the flow of data has turned south. Now, just days after the July Fed meeting, the market has a sinking feeling that the Fed has fallen behind the curve. The 6½ weeks until the next Fed meeting seems like an air pocket away. "