August 30, 2024 – In today's Smart Macro edition of the Financial Sense Newshour, Chris Puplava explains how the Fed's focus has now shifted from high inflation to a weakening job market, especially now that we've seen one of the largest downward revisions to the jobs data since the Great Financial Crisis and recession of 2008. Chris discusses the latest data coming in from the housing market, the manufacturing sector, and employment, and makes the case that the odds for a hard landing recession have risen.
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Charts mentioned in today's podcast:
Citi Economic Surprise Index in negative territory
Continuing jobless claims trending higher
Pending home sales hit new low
Richmond Fed manufacturing index plunges to recessionary levels
Regional Fed manufacturing indexes in recession
Fed funds rate projects continued rise in unemployment
