zerohedge.com / by Tyler Durden / Jul 10, 2017 7:01 AM
In his overnight note, SocGen’s FX strategist Kit Juckes appropriates asks which is the right metaphor for the state of the US economy – Goldilocks or Groundhog Day? He points to employment growth of 1.55%, unemployment 4.4%, offset by weak wage growth of 2.46%. As Juckes summarizes the current economic situation, “weak productivity and weak real wage growth leave the economy in an endless winter of mediocrity, while solid employment growth without inflation is the ‘not to cold, not too warm’ mix that keeps the Fed normalising policy ever so slowly, equity indices marching ever higher and the economic cycle able to trundle on with no recession in sight.”
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