High-Frequency Post-Virus Recovery - 2023-01-18

Okay, we're deep into "be careful what you wish for" territory here. New claims under 200,000 beat the consensus sharply, taking the implied unemployment rate even lower -- and all the other high-frequency data looking solid, too (when there's an increasingly deep consensus we are slipping into recession). What's a Fed chair to do? They told me central planning was going to be fun and easy...