Another Thursday, another million filing for unemployment.
Hopefully news of Jeff Bezos’ net worth topping $200 billion will take some of the sting out of being unemployed.
As usual, the futures couldn’t care less, preferring to focus instead on whether or not the Fed will keep refilling the punch bowl following its virtual Jackson Hole shindig.
It’s not as though jobs don’t matter, but…VIX.
All indications are that the Fed will revise its inflation policy to “average inflation targeting,” meaning that it will allow inflation to run above its 2% target following periods where it has run below 2%. This is somewhat analogous to my new policy of dating supermodels only after going more than a month without.
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