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31st Jul 2023 16:25U.S., Daily Monitor

  • The JOLTS numbers overstate both labor demand and wage pressures; the Fed should ignore them.
  • ISM manufacturing set to signal continued weakness in manufacturing; no rebound in sight.
  • Credit standards have tightened further for most types of loans; banks are pursuing safety not growth.

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Keywords for: 1 August 2023 US Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence