But what it really does is get the meddlesome Trump off their backs, whether jobs are flagging or not. Jobless claims have averaged a very, very low sub-227k in 2025.
Meanwhile Powell & Co. did an end-run around Trump by confirming all the regional bank presidents two months early, before Trump could meddle with that, too, which was a fear.
Which is very amusing.
Long term yields have not believed in the rate cuts.
They have risen, risen indeed!, since the Fed started cutting in the face of persistent inflation in September 2024, and remain higher today.
You can run, but you can't hide from the Hound of Heaven.
