Jobs CRUSHED expectations last week

The NFP report came in with a surprise to the upside: 517K (actual) v 187K (expected)

As mentioned in the previous newsletter, last week was a busy one for the markets. As expected, the Fed raised interest rates by only 25 bps. The real interest, however, was in Powell’s speech where he mentoined the word “disinflation” 15 different times. So, what does this mean?

While most people generally talk about inflation and deflation, disinflatio…