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Banks [in China] are flush with cash, but are either unwilling or finding it difficult to finance projects. Credit demand weakened sharply in July, prompting some economists to warn of a “liquidity trap” in China, where low interest rates fail to spur lending in the economy. As Jeff in our office likes to say, “Stay Tuned!”
Fed officials believe they are justified that their sharp hike in the benchmark federal funds rate has already had an effect on the economy at least anecdotally.
Economists are divided on whether slower US consumer-price growth for July means the Federal Reserve could ease its aggressive rate-hiking program, making 75 basis-point moves less definite.
The gains were widespread across a variety of industries including restaurants and bars, health care, construction firms and finance professionals. These sizzling numbers stand in contrast to other labor data received this week.
But since nobody knows when that is in advance, that just raises the probability of missing the start of the next bull market. Being nervous in tumultuous markets is just a symbol of being human. Responding with panic, however, is a sign of not having the right plan.