In the latest episode of Facts vs Feelings, Ryan Detrick, Chief Market Strategist, and Sonu Varghese, VP, Global Macro Strategist, discuss the latest surprising jobs data, significant payroll revisions, and President Trump's controversial firing of Bureau of Labor Statistics Commissioner Erica Groshen. Ryan and Sonu also provide insights into the Fed’s next moves, inflation challenges, and the unexpected factors influencing recent labor market trends.

Key Takeaways:

• Surprising Jobs Report: July's payroll came in at 73,000—lower than expected—with massive downward revisions for previous months.
• Payroll Data Accuracy: These significant revisions to recent month’s data are due to survey response rates, seasonal adjustments, and methodology nuances.
• Immigration and Labor: A drop in immigration has impacted the labor supply, with fewer jobs now needed monthly to match population growth.
• Federal Reserve Outlook: Mixed economic signals have complicated rate cut decisions, leaving Fed Chair Jerome Powell cautious and focused on inflation risks.
• AI Spending Surge: AI-related investment has significantly boosted GDP growth, offsetting weaker consumer spending.

Connect with Ryan:

• LinkedIn: Ryan Detrick

• X: @ryandetrick

Connect with Sonu:

• LinkedIn: Sonu Varghese

• X: @sonusvarghese

Questions about the show? We’d love to hear from you! [email protected]

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