Editor's Note: Below is a brief excerpt and chart from today's morning note from Hedgeye. It was written by Daryl Jones who is Director of Research. Click here for more information on how you can subscribe.
...In the Chart of the Day below, we show the Federal Funds rate versus the unemployment rate going back to the 1950s. We don’t need an advanced degree in mathematics to see that this period is different than many others. Despite the unemployment steadily coming down (albeit unemployment is not necessarily the best measure of the health of the employment market domestically), the Fed has, well, not moved.