The United States announced that the seasonally adjusted non-farm payrolls increased by 272,000 in May, the largest increase since March this year, higher than market expectations and a sharp increase from 175,000 in the previous month. The U.S. unemployment rate rose to 4.0% in May, the first time since January 2022, higher than market expectations, and had remained below 4% for 27 consecutive months.
What they need to do is have rate increases hit the economy harder the 30 year fixed mortgages make it difficult
Maybe tie rent control to bank rates
The fact is people are earning and spending the same as pre cut
So until they make people stop spending inflation won’t stop in the US. It’s not like in most other nations where a large chunk of mortgages are variable
Likely usd surges as other nations cut 1% and US doesn’t, exports drop, and US economy is forced into recession.
