It looks like the Fed will need to make houses and cars even more expensive
U.S. adds a healthy 236,000 jobs despite Fed’s rate hikes
America’s employers added a solid 236,000 jobs in March, reflecting a resilient labor market and suggesting that the Federal Reserve may see the need to keep raising interest rates in the coming months.
The unemployment rate fell to 3.5%, not far above the 53-year low of 3.4% set in January. Last month’s job growth was down from February’s sizzling gain of 326,000.
Borrowing costs are not a concern for cash buyers.
Which amounts to about 30% of homebuyers. It would be difficult to conjure up a better example of “I’ve got mine, Jack” than your comment.
Karen Peterson – hold my beer
Maybe this is just a consequence of the financialization of the economy over the last 50 years and the fact that the resulting wealth has been concentrated into the largest and least productive population segment the world has seen.
Ya think? Poor people have too much money, seems to be the CW.
“the largest and least productive population segment the world has seen.”
You put forth a compelling argument for social democracy with a universal basic income. Technology and methods have advanced to allow a smaller proportion of the population to support the rest of us.
For most of history “productivity” meant labor-intensive agriculture work. Now not so many fields hands are needed.
And don’t worry, the so-called “productivity” numbers are about to take a huge jump when the mass layoffs accelerate.
Overall inflation is about to be distorted again by OPEC-induced gas price increases. Not that increased gas price is a bad thing, since we aren’t supposed to be burning gas anyway.
Gasoline is like Twitter — everyone agrees we all need to get off it, but almost nobody does.
We will keep using gas until the price rises to a level we can’t afford.
But gas price is a tiger Dems are inadvertently holding by the tail. If gas price goes up, consumption will fall, but Democrats will be voted out of office and replaced by Republicans promising cheap-gas policies. Oh and the fascism too.
I love the ho-hum, matter of fact connection between rising employment and the need to “fix” it. We’re all gilded age stock speculators, I guess.