ADP and the Bureau of Labor Statistics had completely different data. See how?
Adviser Mark Bordelove shares a story of a client who was severely overweight his employer's stock, and how he slimmed down for a more balanced retirement plan.
President Donald Trump has repeatedly criticized his own Federal Reserve chair, Jerome Powell, for keeping U.S. interest rates too high, despite a projected slowing in the economy. Yet a Labor Department report Friday showed that U.S. jobs growth continued at a strong pace in June, prompting some economists to assert that drastic monetary stimulus isn't warranted.
It is an odd dynamic right now with the Fed being more important than the actual economy.
The poor economic trend in the past 10 months or so is pointing toward an interest rate cut. But looking under the hood of that data could paint an even darker picture.
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