Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye U.S. Macro Analyst Christian Drake. Click here to learn more.
"...From a rate of change perspective, payroll growth will continue to slow from here.
The why is relatively straightforward:
In this excerpt from The Macro Show, Hedgeye CEO Keith McCullough discusses what one of the world's most brilliant investors told him about Fed chair Janet Yellen, interest rates and Friday's Jobs Report.
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Takeaway: What do you think? Cast your vote. Let us know.
Takeaway: To hike or not to hike, that is the question all Fed officials are pondering at the moment. Let's look at the data.
"What's really changed, economically, since stocks crashed last time?" Hedgeye CEO Keith McCullough wrote earlier today. "Dovish (not hawkish) Fed." In short, the only thing keeping stocks up at this point is bad economic data and the perennial hope that Yellen will get dovish once again.
This is all clean cut rate hike "data," right?
It gets worse. Add another terrible economic data point to that list today with an ISM print of 49.4 in August. Quick quetsion: Is the Fed out to lunch with its hawkish outlook?
To hike or not to hike, that is the question all Fed officials are pondering at the moment.
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