Today’s podcast goes into a big talking point of mine from last year: the Fed won’t pivot until they get their job loss recession. I know this has been in the minority camp of thinking. However, I am very mindful of people’s talking points, body language when they speak, and specific sentence structures.
I know that the Fed talked about having the Fed Funds rate mirror the 3, 6, and 12-month core PCE data, but that was a decoy talking point of theirs. They’re attacking labor supply and wage growth until they can achieve the job loss recession that their unemployment rate forecast can match. So far, that has been a struggle for them. If you look at it in this light, much of what the Fed has been doing in 2023 makes complete sense.
Every Sunday for HousingWire, we bring out the weekly HousingWire Tracker report, where I take a deep dive into the current and forward-looking housing data lines so you can be up to date with the data lines that matter in housing. If you would like to join HW Plus to have access to the tracker, please use my LoganVIP20 code.
“Keep your face always toward the sunshine and shadows will fall behind you” Walt Whitman
Logan Mohtashami is a Lead Analyst for Housing Wire, a financial writer, and a blogger covering the U.S. economy with a specialization in the housing market. Logan Mohtashami, now retired, spends his days and nights looking at charts and nothing else