ISM Craters and FOMC Never Fooled Econemotions

As we have stated for many months now, the FOMCs rhetoric is about to catch up with them and their “data dependent” models are showing signs that the regime we are in is setting the global economies up for some massive hard landings. Friday’s NFP number which NOBODY should believe, especially after the Philly FED basically exposed the BLSs well…BS employment numbers, came out +223k (exp +202k) and the unemployment rate was 3.5%. We know Powell and the FOMC are looking at wage growth and they should be happy with what they saw as this Timiraos tweet pretty much sums up the data trending in the direction they want it to go:

What should be very concerning and rather eye opening as Zerohedge.com pointed out is the fact that,

684K jobs added in the past 10 months were not the equivalent of 684K workers finding a job, but 684K workers finding more than one job to afford life during this latest episode of soaring inflation.

Source: Zerohedge.com