The writer is founder and chief investment officer at ISO-MTS Capital Management
Is saving more marginal jobs in the US economy now more important than maintaining inflation fighting credibility and financial stability for all consumers? Over the past 40 years, the US Federal Reserve has facilitated both the efficient financing of a growing government debt load and exceptional asset price appreciation.
Now it faces a fresh dilemma. A false market narrative of economic weakness has emerged from soft data, based on emotionally-driven surveys, that is being used to support the case for interest rate cuts. But the hard data supports no cuts and maybe even a rise. Ultimately, this is what should hold sway.
您已阅读15%（708字），剩余85%（3909字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。