Today I’m tearing apart the pretentious nonsense from Wall Street! That old fox Powell made it clear on Wednesday—every American's livelihood is just a number game in his eyes! Unemployment rate below 4.5%? Want to cut rates? No chance! What kind of 'full employment' is that? Go ask the gig workers waiting for jobs on the street, ask the middle-aged programmers who were laid off, ask the young people working three jobs and still can't pay their credit cards if they agree with this 'full employment'!
Look closely, this old guy talks about 'looking at the overall data', but his body is very honest. Consumers have no money left? GDP is crawling slower than a turtle? The labor market is falling apart? None of that matters! As long as that broken unemployment rate number holds up, the Federal Reserve can confidently keep interest rates nailed at a high of 5.5% to suck blood. What's even more incredible is that even his own people can't stand it! Waller and Bowman flipped the table and voted against it right there; this is a scene of infighting the Federal Reserve hasn't seen in over thirty years. If you ask me, these two are the smart ones!
Powell still has the audacity to talk about tightening immigration policies and stable resignation rates—bullshit! That's just a cover to fool the outsiders! Look at how real the market response is: US stocks directly plummeted, bond yields skyrocketed, and the dollar surged like crazy. Traders are using real money to tell you: September interest rate cut? The odds are as good as flipping a coin! The annual rate cut expectation has been slashed to just a shiver, and that guy from Standard Chartered said it plainly: 'Powell is just short of tattooing 'no rate cuts without rising unemployment' on his forehead!'
4.1% unemployment rate? What a load of golden nonsense! This number has been stuck between 4% and 4.2% for over a year, lifeless like a coffin lid. Those elites at the Royal Bank of Canada still brag about it being a 'supply-demand balance'—pfft! It's clearly the labor market gasping for breath, barely hanging on to its last gasp! What's even more disgusting is that inflation hasn't been controlled at all; core CPI at 2.9%, core PCE at 2.8% is called 'slightly above target'? When pork prices in the market rise by thirty percent, why don't you go tell the old ladies it's 'slightly high'? And with tariffs looming overhead, Powell himself doesn't dare to guarantee there won't be a second wave of inflation. In the eyes of these bastards, the common people's grocery basket is less important than the curves on their PowerPoint slides!
Think back to April when traders were dreaming of a 130 basis point cut this year. A month ago they were hoping for 70 basis points. Now? It's been cut down to 35 basis points! The most ironic thing is the futures market prediction; when Powell rolls out in May next year, there will only be a total cut of 65 basis points—less than half of the initial expectation!
Now I just want to ask a heart-wrenching question: do you really think Powell will open the floodgates and flood the market in these ten months? Look at the situation: the unemployment rate stubbornly refuses to rise, inflation is haunting, tariff bombs can explode at any time, the Federal Reserve's own people are fighting each other, and on top of that, there are those politicians’ antics in an election year... Interest rate cuts? Keep dreaming! When that old man sitting in a marble palace treats the livelihoods of the common people as chips on a gambling table, do you still believe in so-called 'economic data'?
Tonight's non-farm payrolls will either be champagne for Powell to celebrate with or the sound of shattered glass for millions of families. The casino's house always wins, but for the common people who bet everything—do you really think you can walk out of this situation alive?
