Markets care about expectations and rates of change.
Real people care about levels — Do I have a job? How big is my paycheck?
If you focus on the former, it’s good news.
If you focus on the latter, it’s still terrible.
Markets care about expectations and rates of change.
Real people care about levels — Do I have a job? How big is my paycheck?
If you focus on the former, it’s good news.
If you focus on the latter, it’s still terrible.