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Sign InHard-landers who thought a recession was taking root in the labor market were mistaken, Eric explains. He and Ed interpreted the recent rise in unemployment as signifying a normalizing labor market—not one that was weakening in an alarming fashion. … Also: Stronger-than-expected economic indicators have dramatically curtailed expectations for further Fed rate cuts. … And: The September 30 tapping of the Fed’s standing repo facility is nothing to worry about.
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