On Friday, February 10th, 2023, Terry Sawchuk made an appearance on The Steve Gruber Show. Listen as they discuss market analysis, inflation and touch on the State of the Union Address.
The Federal Reserve said everything was fine, and then Bernacki said everything was fine. So, I don’t know that they’re the most credible source on that topic as far as the jobs report is concerned. Yes, they created apparently 500,000 jobs, but they’re not engineering jobs. These are not lawyers and doctors. These were mostly service sector jobs. And my guess is in a few months that it’ll be revised out. And what your point of earlier is, is exactly right, Steve, is that the jobs report – and it’s interesting because on one hand you have this 500,000, you know, increase in jobs. But, on the other hand every day we’re getting more and more announcements of companies that are laying people off. So the jobs reports a bit lagging and I think as we head into the second half of the year you’re what you’re going to find that is fed policy is probably going to go too far and it’s going to exacerbate more difficult conditions.
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