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#FedSeptemberMinutes The Fed may be facing the combination it dislikes most 👀
Services are still expanding, but hiring slowed to just 29K while the ISM prices index climbed to 74
That's what caught my attention. Growth hasn't collapsed enough to kill inflation pressure, yet jobs are already losing momentum.
The minutes matter because this is no longer simply "inflation vs growth." The Fed may need to choose which risk it is more willing to tolerate: sticky prices or a weakening labor market
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