Posted by on January 11, 2022 6:06 am
Categories: Breaking News Epoch Times News

Fed, Markets in Quandry After Friday’s Job Report

Friday’s jobs report for December widely missed its mark, printing at just 199,000 jobs when 400,000 were anticipated. The dismal report raised doubts about the likelihood the Fed would hold to what seemed like an assured interest rate increase just two days earlier, when the Federal Reserve released its minutes from its December meeting. The Fed minutes hammered the tech-heavy NASDAQ, moving the index down 686.82 points, or more than 4 percent, by Friday’s close. Moreover, news that the Fed was likely to raise rates cratered Bitcoin by 8 percent from Jan. 4’s close to the weekend. Now, the disappointing jobs report has left analysts in a quandary. Make no mistake: Milton Friedman was right when he said, “Inflation is always and everywhere a monetary phenomenon.” As I wrote some weeks ago, there is simply too much money—as measured by M2—in the economy pushing too few goods in the economy, …

Originally appeared on The Epoch Times

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