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Afternoon Note

December Jobs Surge

By Charles Payne, CEO & Principal Analyst
1/4/2019 1:35 PM
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This was yet another report that sees prosperity making it to people that have been on the outside looking in for years. 

Three consecutive months of 3.0%+ wage growth, which hadn’t been achieved in a decade, is remarkable.  And for those that believe the Fed should wreck the economy because of greater job creation, and even improved wages, keep in mind the spike in wages on the eve of the Great Recession that began in Dec 2007:

Speaking of Federal Reserve

Fed Chairman Jay Powell steps up to the plate and makes it right.  Highlights from his comments today:

Jay Powell also said he won’t resign if President Trump requested, but he is open to looking at quantitative tightening.

China Next

With employment zooming along, and the Fed willing to let data dictate policy, the market can now set its sights on trade negotiations next week.  I have said from day one, America could win this “war.” But in the end, a deal would be win-win for both countries.  I know China wants to be the world tech leader, but they must not be allowed to steal U.S. know-how, especially in board daylight.


Comments
Finally Powell comes out of slumber and comments after literally trillions in market value has been wiped out. Better late than never...

His comment about not resigning if asked is really otherworldly. I have never heard of anyone regardless of how prideful that was appointed and there at the party at the behest of the person that appointed them comment that they would not respect a request from that person to step down. Seriously?!!!!! They'll have to remove Romney's picture next to the word hubris in the dictionary and insert Powell's lol.

Ray Weldon on 1/4/2019 2:06:59 PM
China is a criminal organisation... The way they treat their own people is the way the see the whole world... All they know is subjugation and exploitation... They will never be a world leader, in any sphere, unless we are looking to award prizes for the most abhorrent behavior...

Andrew B Newallo on 1/5/2019 10:39:04 AM
 

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